Ignore the Economy

The March issue of BusinessSolutions published a great article, "Ignore the Economy." Rather than paraphrasing what I want to point out, here is a clip from it (author, Mike Monocello):

I’m not denying that the economy isn’t struggling. It’s now a sad reality. However, I don’t think things are as bad as most people think. I’m not alone. For instance, at the NRF (National Retail Federation) BIG Show 2009 in New York City, I had the opportunity to speak with more than 20 lead executives from a variety of manufacturers in retail. Nearly all of them told me they haven’t seen the type of recessionary slowdown the media and analysts have been stressing over. However, many of these executives also admitted their companies are being very cautious. Chances are, you’re in the same situation of cautiously waiting things out. My question is, how long will you wait and keep your business in a stalled state? Or better yet, why wait?

He goes on to say that there is mounds of actionable information available to retailers to improve their retail business.

One Step can advise you on a course of action if you need some help. We also provide free business analytics.

Story source: http://tinyurl.com/d4kanw

American Apparel's Profits Rise

Our client American Apparel Q4 profit rises 30%

Clothing maker American Apparel Inc's fourth-quarter profit jumped 30 percent, helped by growth in retail sales at its U.S. Retail, Canada and international business segments, but forecast 2009 sales below analysts' estimates.

The company, which plans to open 25 to 30 stores in 2009, said it expects net sales of $575 million to $600 million in 2009 and income from operations in the range of $55 million to $65 million.

The company -- known for its brightly colored basics, pro-labor policies and racy marketing -- posted a fourth-quarter profit of $3.9 million, or 5 cents a share, compared with $3.0 million, or 6 cents a share, a year earlier.

www.onestepretail.com

Clovers Natural Market Replaces POS System

One Step Retail Solutions and Clovers Natural Market of Columbia, Missouri are happy to announce the implementation of CounterPoint SQL by Radiant Systems point of sale (POS) software in these popular mid-west markets. Clovers will be replacing all of their POS systems with Radiant Systems hardware and CounterPoint SQL software, supplied by One Step.

Scott Kreisberg, CEO of One Step stated, 'We are pleased to be a part of this long-established, thriving natural products market and their continued expansion. We are always happy to support retailers like Clovers, who have the long term in mind, not only for themselves, but for the betterment of their customers and their community.'

After going through a complete Needs Analysis with One Step Retail Solutions and a thorough demonstration of the software, it became clear that CounterPoint SQL had the features that Clovers was looking for, including integration of a scale at checkout. Clovers also found that One Step could give them a level of support that they had been lacking with their previous system and that the 23-year history and experience of One Step would assure them of a stable business partner for years to come.

With two stores in Columbia, Clovers has been a part of their community since 1965 and specializes in organic produce, gourmet and specialty products, gluten free, sugar free, low sodium, frozen and refrigerated products, coffees, teas, books, incense, candles, with an extensive supplement selection including vitamins, minerals, herbs, and homeopathics.

Retail Boom Forecast

Phoenix historical economist forecasts surprise retail boom in 2009
A combination of legislative mandates, the Stimulus Plan, reduced competition and new consumer savings and income could result in surprisingly robust retail sales by the Fourth Quarter of 2009.

H.L. Quist says, "I'm not an expert on retail but I do have an excellent track record of analyzing economic and political trends and forecasting future events. An unusual confluence of factors are coming together which could bring a pleasant surprise to the devastated retail industry."

H. L. Quist is the author of "The Aftermath of Greed: Get Ready For The Coming Inflationary Boom."

Read full press release:

http://www.prweb.com/releases/2009/03/prweb2220824.htm

This news was also posted on the company’s new Twitter account: http://twitter.com/onestepretail

Retail Store Making Right Decisions

In a recent case study by One Step Retail Solutions on Pump Station in Santa Monica, CA, the store increased its sales 20% in the last three years. A second store opened up 3 years ago in Hollywood, CA, watching sales go up 83%. Two more stores are being planned to open up this year, 2009.

Pump Station COO Cheryl Petran attributes their growth and continued success to point of sale technology which allowed them to forecast sales and manage inventory better.

With better financial planning and profit goals, Pump Station owners have been able to gain insight into what is going on in their business and use the reports to make the right decisions.

Ms. Petran feels they are out-pacing the economic downturn by forecasting smart and managing the inventory to her forecast. “Being proactive means forecasting, facing the reality of it and dealing with it,” said Cheryl Petran, COO of Pump Station.

“If you can really look at where you think you’re going to be and be realistic about it, then you can survive. I have a POS system with history that I can use for expansion. With our POS system we can quickly evaluate if our decisions were good or bad. I learned many years ago to manage your inventory smart and manage your vendors smart.”

Pump Station is continuing to expand their retail business, despite the changing economy.

Note: One Step Retail Solutions installed Retail Pro point of sale software, robust POS hardware, and hand-held scanners. The system is integrated with POS QuickBooks.

Technology Pavilion at MAGIC

One Step Retail Solutions was in the Technology Pavilion at MAGIC in February. The pavilion offered free cappachino and a Wifi center. See photo montage:

Here are some photos:

The Specialty Retailer Advantage

With the recent government numbers showing specialty retailers down 19 percent, the focus for these retailers has shifted to being more promotional, buying smarter and not piling up on inventory. They are also making deals with vendors to get flexible deals. And they are moving toward improving their retail management technology in an effort to re-organize and become more efficient.

In all the changes an independent retailer faces, bringing customers to their store is the primary goal. Obtaining loyal customers is bringing them back. When people walk into a store, they want to know the people at the store. It's about relationships and that is what separates the independent specialty retailer from the big-box retailers.

In a recent Webinar with Kevin McAdam of One Step Retail Solutions, he talked about what a retailer should know about in surviving the current economy. He discusses retail Key Performance Indicators and how to read and interpret them, the various ways to use technology to increase profits, decisions a retailer has to make about their inventory, and how to overcome obsctacles during a recession.

Watch Webinar "The Truth All Retailers Should Know About Surviving in the Economy in 2009".

Strategies for Economics of Retailing

There's a lot of talk about the need for retailers to shift their operating strategies due to the down economy. The necessity to evaluate retail business solutions and employ new tactics and strategic inititives with technology is more crucial than ever in order to meet today's challenges.

The key areas for retail success hinge on the retailer's ability to control inventory, streamline purchasing and receiving, improve customer and vendor management, integrate accounting and eCommerce, and use reporting features that give them insight into their retail business.

The most important approach to transform the business of retailing then is implementing a strategy that focuses on those key things. Lucky for retailers, a good POS software system like Retail Pro and CounterPoint have the features and tools that put a retailer in control.

The landscape of economics may change, and a retailer needs to navigate through anything. If a retailer is using a comprehensive POS system, this is what they can leverage in not just the current economic climate, but in any kind of economic times.

Lift Your Retail Spirits

In an article "How to Lift Your Retail Spirits" by Matt Parmaks, he talks to retailers about getting back to basics to ensure retail success. We published this in our "Retail Buzz" in Dec. 2008, as we thought it timely to help retailers take a look at some things they can do to improve their business.

If you subscribe to our quarterly publication, The Retailer Report, last month we published an article "Weathering a Storm In the Retail Business" by Kevin McAdam. This was actually a chapter in Kevin's eBook "Succeeding in the Retail Business During Economic Stress."

Another related article that you might find helpful is What Retailers Can Do in a Down Economy by Scott Kreisberg.

Successful strategies have proven to lift retail spirits because, all in all, when you're looking at solutions instead of the problems, you'll be much better off.

Relax in our Technology Pavilion at MAGIC

MAGIC Marketplace
February 17, 18, 19
Las Vegas Convention Center
Booth# 17031 North Hall

One Step Retail Solutions is doing something new and exciting at MAGIC Marketplace this year and invites retailers to come by, get some free coffee and relax in their Technology Pavilion located in the North Hall, White section of Woman's Apparel.

The Technology Pavilion is a large and comfortable space filled with cushy couches and chairs for retailers to get off their feet, take advantage of complimentary coffee at the coffee bar, and have Wi Fi access to download email.

One Step staff will be showing the latest HP hardware, Panasonic security cameras, the new Quadrox security system, Retail Pro and CounterPoint POS software, and BizCampaign, a way to centralize and coordinate all your marketing functions.

Contact One Step that you're coming! (800) 266-1328, or send Email to sales@onestepretail.com.

Webinar: Truth About the Retail Economy in 2009

One Step Retail Solutions is hosting a live Webinar, "The Truth About the Retail Economy in 2009 - How to Make this Year Your Best Year Ever"

Date: February 10, 2009
Time: 11:00AM to 12:00PM PST.

Space is limited.Reserve your Webinar seat now at:https://www2.gotomeeting.com/register/720110200

Join retail expert and author Kevin McAdam for a 45-minute discussion on the cold hard truths about creating retail success during tough times.

Find out:

• The 5 most important Retail Key Performance Indicators for you, how to read them and how to interpret them.
• The numerous ways you can use the technology you already have to increase profits.
• The 5 decisions any retailer has to make about his inventory.
• The biggest obstacles to retail growth during recession and how to overcome them.

Having shepherded retailers successfully through the past economic recessions over the last 23 years, One Step Retail Solutions knows how to take advantage of the economic climate to make 2009 your best year ever.

Join Kevin McAdam for this fast-paced live webinar to find out how to make this year your best ever.

After registering you will receive a confirmation email containing information about joining the Webinar.

Reserve your seat now:
https://www2.gotomeeting.com/register/720110200