Predictions For What Retail Customers Will Find in 2010 by Bob Phibbs, the Retail Doctor

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This is part two of predictions for both retailers and customers in 2010…

• Expect less, pay more.  With Wall Street demanding increases, big boxes will continue to run on skeleton crews to keep their percentage of labor expense in-line with lower sales.  With lower inventory, better computer modeling of demand and lower costs, sales will still appear but they will be more selective what is and isn’t included.
• Hit and run.  Many businesses were barely hanging on the last few years.  Several will leave with advance notice but more and more you’ll find they left in the night to avoid the landlord locking their doors and keeping their merchandise.
• Everything will be cheaper built in order to make price points.  That means for many items quality will deteriorate and may even lead to unsafe products.  Look no further than last Sunday’s 60 Minutes story about cheap holiday lights causing house fires.  Better merchants will educate customers, not just stick a sale sign on their wares.
• Coupons and free food will still be the promotion of the day.  If you’re willing to be baited and switched or told, “we ran out,” chase the deals – otherwise if it sounds too good to be true, there’s probably a catch.
• Expect to have to wait for goods as “just in demand” inventory stretches suppliers to the limits. Think less stockpiled merch and more tags as to how to order it online for delivery in a few days.
• Look for states to try to balance their budgets by getting the tax revenues that have given online stores an unfair advantage over their bricks and mortar competitors.

This was part 2,  if you want to know what retailers can expect for 2010, it’s here.

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