Retail Boutique Planning for 2025
Dec 04, 2024
Ok, please don't judge me. But I'm just getting sick of people spreading misinformation about things they have NO idea about.
I saw a post the other day on my business feed that was malarky! A woman was basing an entire post dissing on the retail industry-- when she was trying to sell a service unrelated to retail. πππ
Essentially she said, "Target says they will be flat to last year... that means they expect people to buy less stuff. My prediction is all retail is going to take a hit."
UM EXCUSE ME? WHAT THE F?
I, of course, commented and said "Hey, flat to last year means the same... not less."
To which she commented back saying "You missed the entire point of the post."
And went on to quote huge consulting firms that work with Fortune 500 companies.
Again, that has NOTHING to do with the small businesses you are speaking to. She was SO out of her scope and acting like I didn't get it.
UM WHAT? No freaking way.
You know I had to write back...
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Here's my reply back to her saying I missed the point:
"You said that "Target...they expect people to buy less stuff."
That's not true.
"Flat to last year" literally means they will make EXACTLY THE SAME AS LAST YEAR, not less.
I'm a retail strategist and work in the numbers of hundreds of small retailers across the country.
For you to say "My prediction is —all retail is about to take a hit." is SUCH a REACH and honestly, a statement you should consider editing. Especially based on data from big consulting firms-- they are NOT in the data of the small retailers on this platform who are reading this.
Consumers are very aware that local retail is important and we need to support them.
Here's some truths about small retailers (under $5M a year in sales):
- Brick and Mortar, in the right location, is up 5-10% from last year.
- B&M Consignment is going bananas.
- Online retail is seeing a shift... but BFCM was INCREDIBLE for many. But yes, branding and assortment choice will always be important here.
Otherwise, we will see what the new president does with Tariffs---that will be the determining factor in 2025 on how consumers make buying choices, regardless of messaging being good or not.
The thing I seemed to have missed about this post is how you are using retail sales data as your touchpoint for a masterclass about messaging. Service based businesses should never be commenting or postulating about product based businesses. They are simply too different to compare or use in analysis and make this broad statements."
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Was I too harsh? Honestly, I don't care. If you're not for small retail, you're not for me.
Everyday I spend far too much time thinking about how to help you work to the goal of a financially secure boutique business, and anyone that comes up against that is going down in my mind.π€π¨
Want to hear more of my current thoughts on the Future of Boutiques? I recorded a podcast this week that talks more in depth about what 2025 is predicted to bring, including tariffs, buy planning and advertising costs. Click here to listen!
As always, you can reply to this email with thoughts, ideas, questions or asking for help. We'll get back to you as soon as we can with ideas, solutions, and opportunities to grow with me.
Here's to making lots of friends and making lots of money!