Which retailers will lose, who will win, and help for those who want it

Aug 19, 2020 | Blog, Covid-19 Business Strategies, Resources Owners Can Use!

Welcome to my August, 2020 E-newsletter for Destination Business Success.

Give me 3 minutes and 46 seconds and you can read this.
Let’s get started with:

Which Retailers Will Lose

We’re hearing a lot about retailers who are having trouble during this pandemic and one group recently put out a 40+ page analysis of what needs to happen for their stores to be successful this year.

I thought you’d enjoy some of their insightful conclusions:

  • Stores will need to offer a unique customer experience beyond serving as a transactional venue.
  • Reaching customers will be the ultimate challenge for retailers.
  • Consumers are recalibrating their spending on online services, accelerating their adoption of e-commerce and increasing online shopping.
  • Underperforming stores will most likely shut down in the coming months.

Seriously, I first thought this analysis was something Andy Borowitz had written.

Not only are these comments so overwhelmingly understood by anyone who’s involved in retail, I always cringe when I hear anyone use the term “Underperforming stores”.

I used to do site selection for Hallmark Cards. It was then that I learned that underperforming stores is a term that’s used by people who design and run retail stores when they don’t want to say they’ve created a bunch of boring stores that don’t draw enough customers.

Doesn’t underperforming makes it sound like the problem is the location, not the entire store concept?

If you’ve been reading my e-newsletter for a while, you know that a store’s location really doesn’t matter that much in today’s world, given how many Destination Businesses exist in less-than-perfect locations and still do amazingly well.

Which Retailers Will Win

Retail writers like Lauren Thomas (@laurenthomas) and Anne D’Innocenzio (@ADInnocenzio) do a great job following retail trends, but you ask any Destination Business owner what it’s going to take to make it in 2020, they’re going to tell you these three (3) points:

#1: You better be memorable: Extraordinarily, positively memorable. When people think about your business, they better love it and want to tell others about it and want to spend money in it. When the next consumer slowdown hits during this Fall’s cold weather (you heard it here first), your business has to be the place that customers say: “That’s the place where I’m spending my money.” You have to get the consumer to prefer you over all others, even when those consumers would prefer staying home or are afraid to go out.

#2: Be an owner involved in your business: This year, I’ve never seen so much outpouring of love for independent business owners and it’s all because we know many businesses are having troubles, but given all of our choices on where to spend, people are demonstrating that they prefer to help independent owners they know, who they see working hard, who are totally invested in their communities and their businesses.

Chains can’t replicate that.

#3: Learn to shift gears fast: Those owners who aren’t afraid to breakaway from what they’ve always done are already ahead this year. And best of all, independent owners are not afraid to tell other owners what it took to jump ahead. I see this every day: Owners who have had success in some way, willing to tell all the details of their success to another owner in need.

You know who’s really having troubles in 2020: #1: Those who are hoping that Big Brother is going to throw them a big pile of money, and #2: Perfectionists. (If you’re one of those, this year, you don’t have time to make it perfect.)

But enough about my predictions.

Ideas You Can Use Now

First, I’m starting a private Facebook group for business owners and community leaders who want to share ideas, learn together, and get help from me. Just go here and ask to be part of the group: https://www.facebook.com/groups/DestinationBizInsiders

Second, here’s a link to see all of my Destination trainings in one place. There’s something here for everyone:

If you go to the link above, you can learn about these 4 different classes:

  1. My last 2020 online Destination BootCamp class is coming on October 27-29. I’ve completely rewritten the entire contents of this class and added 77 different tools to help your business during this pandemic, no matter how bad it’s going to get (or not get, if you’re an optimist). By the way, this is my 18th year teaching this class, but this October class has the most significant number of changes I’ve ever made to the course.

  2. If you’ve already taken my Destination BootCamp, you are eligible to take my Graduate BootCamp in September 14-16 and learn from our cast of business experts and Destination Business owners. Learn who’s going to be helping me teach this class this year by clicking here.

  3. The online Destination Creation Course is my 8-chapter, compressed version of my BootCamp above and on the calendar link you’ll find at least four (4) different Destination Creation Courses that are being taught starting in September by our trained Facilitators. We have 58 Facilitators in North America, and each one can lead you through this class. You can read more about the Destination Creation Course at www.DestinationCreationCourse.com

  4. Finally, if you’d like to become a Facilitator and lead business owners through my Destination Creation Course, you can become a Facilitator by attending my Destination Train-the-Trainer class on September 29 through October 1. Just go to: https://www.successfulindependentbusiness.com/become-a-facilitator/

And just so you know, here are the States where we don’t have Facilitators and would like them: Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Georgia, Hawaii, Idaho, Iowa, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Nevada, New Jersey, New Mexico, North Dakota, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Washington, and West Virginia.

And if you’re from Canada, we only have Facilitators in Alberta and Saskatchewan. Every other province is waiting for you to jump in.

That’s all I have this month, everyone.

And as always, if you have questions, either email me at js@jonschallert.com or give me a buzz.

Thanks!

Jon Schallert

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