Navigating the Storm
Creative Strategies to Thrive During Uncertain Times and Rise Stronger
By Erica Kirkland
The impact is stark — sales are down, and the uncertainty surrounding future pricing is causing hesitation in purchasing decisions. Yet, this issue is about seizing the opportunities that come from navigating tough times with creativity, foresight, and grit, which we all need in spades right now.
The newly proposed tariffs on Chinese imports could drastically impact Halloween and the holiday season. If products even make it in time, what once were affordable seasonal products are now skyrocketing in price. A decoration that used to retail for $19.99 could now cost $39.99, putting it out of reach for many families.
Yet, amid this uncertainty, retailers are embracing new ideas, focusing on what makes their businesses unique, and seeking out fresh products that can engage customers, even if the economy isn’t cooperating.
Retailers are not just sitting back and waiting for the storm to pass — they are actively seeking out ways to maintain customer engagement and make their businesses nimbler. Whether it’s by launching new promotions, focusing on locally made goods, or looking hard for new product lines that appeal to customers seeking value over price, independent retailers are proving time and again that resilience is key.
In our Expert Q&A, retail expert Bob Phibbs reminds us that while the economic landscape may be unpredictable and you may not be able to control the tariffs, you can control how you respond to them — through smart planning, careful budgeting, and continuing to nurture the personal relationships you have with your customers.
As many of our reporting stores have proven, it’s possible to weather any storm. By adapting, you will emerge stronger. Use this crisis as an opportunity to reevaluate and reinvent your business!
xoxo
Erica
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