Retail survival strategy tips for 2010
Posted by: Curtis Stevens on January 26th, 2010

retailcovx-largeThe recession is starting to push hard against the retail industry and is having a big impact on sales.¬† This usually has a trickle down affect for the credit card processing business. Many retailers are getting their chips in-line to be able to market itself efficiently during the new, tougher economy. This past holiday season was a good test for the retail industry on the new less is more buying mentality. Former JCP CEO made a statement that described this perfectly and I quote “I never saw anyone go out of business because they didn’t have enough of something.” So what are retailers suppose to do? You can only cut prices so low. Retailers should create themselves a niche or leg up over the competition. Such as JCP has created over 20 different private label brands that you will not find anywhere else. Having an exclusive brand keeps your customers coming back time and time again. Being green is another business concept that is on the rise as well. How retailers operate and the products they sell are becoming more green than ever before. Organic goods is one popular item that is increasing in demand. Many retailers like Wal-mart and Target are also¬† incorporating as many green products as possible in their building’s designs when creating or renovating a store.

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