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As Seen in Gifts and Decorative Accessories Magazine
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A Look at 2020 With Randy Eller
Gift and home industry consultant Randy Eller answers questions about what we’ve learned from COVID-19, what new opportunities are out there and more.
What About 2030?
As I’m writing this, it’s daylight on Jan. 1 and I’m having my first cup of coffee looking at a beach, listening to and reading the financial news. Pundits are saying that we just finished the best decade of American history. Very few people are challenging this because, well, numbers don’t lie
Focus On What You Can Control
As a country, we have a lot of issues right now. This isn’t a news column, so I won’t go into the details, which I’m sure you are already aware of. People, and your customers, have more things on their minds right now than possibly ever before — disconcerting things.
Balance the Good With the Bad
In-store experiences can make or break brick-and-mortar stores.
My wife Vicki and I travel on long weekends to resort areas around the country. We usually pick spots that have an active community with lots of gift and home stores because of our love for the industry.
Your No. 1 Job in 2018 is …
Stay positive. Stay positive. Stay positive.
Here’s where you should be. As I write this on Jan. 5, everything in our economy seems to be cooking at a high level.
New World Budgeting
I think we all know, whether we are retailers, reps or vendors, that we have entered a new world of commerce that is going to be totally dominated by technology in every way.
Over the last 12-18 months, I’ve noticed a troubling trend when I execute strategic reviews of companies as it relates to their budgeting.
Product Development at the Speed of Competition
In today’s age, the competition is less about price and more about image, community involvement and tactics to keep the traffic in your store.
Since the birth of capitalism and commerce, new products have been driven by dreams, passion and even practical needs.
Brand … or Die
My goodness, the world is moving at breakneck speed to commerce on the Internet.
What does this mean to you in its simplest form? It means that as a retailer or a vendor, you must move at breakneck speed to build a brand connection with consumers.
Adapting to Change
New technology, new ways of working, it’s all here for the gift industry. So what’s holding us back?
I’ve just returned from the annual Gift, Home and Trade Association conference, held this year in Austin, TX. As usual, GHTA presented a number of solid educational workshops, keynote speeches and lots of networking activities.
Grow Sales or Profit
Take control of the relationship with Internet retailers, and your profit margin, by building and leveraging a must-have brand.
In the ’80s, ’90s and early 2000s, the world was full of chain stores with the basic business model of demanding significant discounts on pricing from vendors, then adding insult to injury by creating “routing guides” which were really just a French term for profit center.
Are You Special?
There’s growth in differentiation.
I swear I thought I was dreaming at this January’s Atlanta market, where virtually everyone I spoke with made comments I once feared would never be said again.
You Do Have Other Options
It’s time to consider other markets to grow your business and move forward in the future.
My previous article, “There is Only One Customer Now” has generated a lot of response. I seem to have hit a nerve, which I fully intended to do. Growth has to be encouraged. Growth has to be spurred. Growth, most of the time, has to be painful to be effective.
There is Only One Customer Now
Today’s consumer is our only target customer. What if we all work together to successfully sell to them? It’s a win-win-win for all.
There was a time in this industry, not so long ago, when things were much simpler. Everyone knew their role and it worked well. Vendors in this industry had one customer: the brick-and-mortar stores. The brick-and-mortar stores had one customer: the consumer.
As Seen in Home Accents Today Magazine
Makeover? Now!
It’s spring, in more ways than one. The recovery has started. I see it everywhere I go and in everything I read. It’s tentative. It’s fragile. But it’s there, and it’s going to gain momentum from here.
Price vs. Value
As we enter the New Year, I’m thinking back on all the conversations I’ve had this year with manufacturers and retailers about the things that caused them the most lost sleep last year.
Time to Get Back in the Game
As I write this column, two different news items have passed before me in the last 24 hours that lead me to believe things really are starting to turn for the better.
Big Problems Equal Big Opportunities
They say that adversity creates big challenges, and big challenges create big ideas. Certainly in my experience in business, that is true. In fact, some of the best ideas I’ve ever seen were hatched during the most stressful of times.
In the Eye of the Storm
As I write this in the early days of March, I almost feel our economy, and our industry, are in the eye of a hurricane. As you know, the early stages of a hurricane are usually followed by a calm period in the eye of the storm and then the inevitable slap of the backside of the storm.
Do You Have a Systemic Failure in Your Business?
Well, for the last several columns, I have been giving hints and suggestions about how you can look at your business in a different way and get ready for uncertain times. I certainly didn’t want to be the first to utter the dreaded “R” word – recession. However, I see by the newscasts and my morning papers now that some powerful brains at some universities and politicians have announced that we are, officially, in recession.
Recession? Strategies to win either way
I will leave it to the economists, the CNBC guys and the politicians to continue waging the debate on whether we are in a recession, about to enter one or experiencing a false alarm. I certainly don’t have the crystal ball to say either way. In fact, I wish I could feel comfort that they do! The real question is: How will your business continue to make money in any economy we face?
So, what’s old?
What’s new? Without a doubt, this is the No. 1 question on the lips of every person involved in this industry. Whether you are a manufacturer, sales rep or retailer, this is generally the way every conversation starts when two people in this industry meet anywhere in the world.
Business Memo – The power of focus
Do you remember when you were a kid in school? If you struggled (as I did), you probably remember when your teacher helped you, they would tell you that you needed to “focus” harder.
Business Memo – Are you a ‘For Profit?
Learn more about profitability, the internet and ideas for smaller retailers.