You never want your store to become dated when it comes to your merchandise and displays. There are some classic products that will always be profitable but you should keep a close eye on the newest trends and your inventory. This is not to say that you should jump at every pet rock craze that comes along, but it’s never a bad idea to know what your customers are talking about and looking for.
Here are some trends with long term value that might be selling points for you now or in the future.
Go Green
According to the 2009 Cone Consumer Environmental Survey, 34% of Americans are more likely to buy environmentally responsible products today. And 70% indicate that they are paying attention to what companies are doing with regard to the environment right now, even if they cannot buy until the future.
Online Sales
With gas prices still high, consumers are looking to the internet to save themselves a costly drive. If you already have an online store consider offering free shipping for spending over a certain amount or advertise a free gift with purchase. However, if you are thinking about creating a new online store, be prepared to advertise or discount aggressively to drive initial traffic in order to build an online customer base.
Buying American
This is not a new concept, but with struggling economy and the American car industry urging consumers to buy American made cars, some consumers are looking at the tags on other items as well. Look at your inventory and weigh if highlighting some of your American made products could make a difference. However, be cautious of this tactic if the majority of your products are not American made, as it will only highlight that you carry imported products. While there is nothing wrong with imported products, certain customers may not like it.
Health
The boomer generation of Americans that were born between 1946 and 1964 are moving into the senior citizen bracket, 65 years of age and up. With the life expectancy hovering around 80, the boomers aren’t going anywhere. In their retirement they have money to spend and are looking to healthier lifestyles to keep up with the grandkids.
Do It Yourself
People are looking for money savers. Instead of paying someone for labor, some are finding that they don’t mind rolling up their sleeves themselves. If your product is suited to do-it-yourselfers, capitalize on your expertise by hosting workshops. People will buy your products for their project and call on you if things don’t end up looking like the picture.
Have you noticed any current trends that have impacted your business?