Out of time, out of business or out of stock? 2009 will be the ultimate business filter.
I drove down to my parents in Lowestoft, Suffolk yesterday. Today, I walked with my partner into Lowestoft, to get some (brutally) fresh air - the Easterlies that blow into Lowestoft during the winter are real cobweb removers.
Walking through the High Street (which I remember well from the 1970's) it was immediately apparent A) just how little it had changed in 30 years and B) how many of the retail outlets are going to disappear over the next year or so.
Almost every other shop was boarded up, or had massive '50% off marked price' sale signs up. Woolworths was a retail carcass, little was left following the group's failure prior to Christmas, and it was clear that many 'rag, tag & bobtail' stores would soon be following suit. From Clinton Cards (looking hopelessly outdated) to Chadds (an old school department store, in business for 100 years) if the product they were selling was surplus to requirements, or under-priced elsewhere (for example, the 70% off greeting cards at Woolies must have been hurting Clintons) then surely the whole 'house of cards' (excuse the pun) was destined to collapse spectactularly.
Even Boots and Superdrug, with dozens of unsold Christmas fragrance & toiletries coffrets - beauitful product, attractively priced and certainly worth purchasing have been affected.
So, if you're a business owner, it's worth taking a look at YOUR business, and whether what it's selling will continue to be bought (and hopefully, if demand is strong, go out of stock, only briefly...!!!) or whether it's a business out of time.
Being in business is a living thing - if you don't constantly adapt to deal with and maximise change, like so many 'old fashioned' retailers, that are living in the past in the hope that the future won't catch up with them, then you run a very real risk of failure.
Over the coming months, I'll be blogging about WoRry - the process of Winning out of Recession, hopefully those of you who follow my blog will see a way forwards - for where there is great change, there is great chance of opportunity.
Well done to Benjamin Britten High School for taking advantage of some of Woolies' redundant fixtures, and also 'Wayne' who seemed to have snapped up pretty much all of their point of sale.
I also found it ironic that just as Don Lewin, Clinton Cards' founder writes his story, that Clinton is on a 50% off sale, and according to the Sunday Times, short term financing. I presented Clinton's with a great internet business opportunity a couple of years back, suffice to say 'the didn't understand it' and maybe this is symptomatic of their business.
Where King of Shaves is concerned, we were in the 'out of stock' position at Superdrug following a very successful promotion for our Azor, but thanks to Karen, she's promised to replenish the shelves PDQ.
Keep on shaving 'n' saving...
