When discussing those affected by the most recent downturn in the economy, mall department stores have surely been among the hardest hit. So called anchor stores such as JcPenny, Dillards, Sears, and Belk are just a few of the big name retailers that before the downturn could be found in most malls all across America, yet now have left huge gaps in retail space as they were forced to make some unfortunate decisions regarding the number of stores they could maintain. Thankfully it appears that there very well may be some light at the end of the tunnel as one recent report suggests that shoppers are slowly but surely making their way back to the malls and bringing with them a much needed influx of cash. According to Fortune, anchor stores reached a milestone of sorts in 2010 by increasing their market share for the first time since the 80′s. President of Customer Growth Partners Craig Johnson explained that although the growth was small it was having a huge impact on the industry saying “Even though it was only a tenth of a share point, for department stores, that is a huge change. This is a real turn in the market. We’re optimistic that the momentum is just gathering.”
This recent upward tick doesn’t just represent a significant event for big name stores such as Macy’s and Nordstrom’s, consider that for every anchor store located in a mall there are typically 10-20 smaller business who have been experiencing the same economic issues but with much more dire consequences due to the lack of a larger corporation to help them stay afloat. If you are one of those mom and pop style small business owners who have somehow managed to make ends meet until the shoppers return, then now more than ever you need to make sure that when they walk through your doors they are hit with some of the most amazing designs they have ever seen.
From full scale portable showcases, to custom designed fixtures, to enticing window displays, Godfrey is here to help you answer the call off all those consumers who are finally making their way back to those very same malls that once cherished so dear. Don’t wait for those stores around you to do it first, get a jump on the competition and be ready to see you sales rise thanks to a little bit of redesigning from Godfrey.
The holidays are over. The stockings have all been put up to next year. The Christmas tree lights no longer twinkle till the wee hours of the morning. Auld Lang Syne has been sung and the streamers have all been swept up. That list of gifts you had to get has been tossed aside and now we all face the same problem of trying to hold on to as much money as possible in order to pay off our Christmas debt. For small business owners this time of year is traditionally one of the toughest, known for the number of bankruptcies that are filed each year by companies that unsuccessfully pinned all their hopes on lack luster holiday sales.