Retail Trends

Inventory Management: Tips and Trends

To run a successful store, it’s vital that you regularly manage your inventory and with these simple keys, you can save time and money and therefore, become more productive. The following article was produced from a STRIVE Webinar, presented by Joanna G. Brumsey CPA from Wall, Einhorn and Chernitzer. CURATE YOUR INVENTORY No matter the… [Read More]

Retirement Takes Time – Who Will Fill Your Shoes?

Much has been written about the Baby Boomer generation but one thing that we all know for sure is that retirement is already underway or imminent for many of them. Retirement of this generation is going to have a major impact on the economy, with widereaching implications. An unprecedented proportion of those baby boomers are… [Read More]

2014 Survey Shows Huge Benefit From “Buy Local” Efforts

A national survey of independent business owners conducted by the Institute for Local Self-Reliance in partnership with the Advocates for Independent Business coalition has found that Local First initiatives are boosting customer traffic and improving the outlook on Main Street, but policymakers need to do more to create a level playing field and ensure that… [Read More]

The Corner Post: My Notes From The National Retail Federation Big Show

I had the opportunity to travel to the National Retail Federation (NRF) Big Show in New York City a little while ago. What an interesting and thought-provoking experience! After reviewing my notes I would like to share some of my take-aways: Online sales versus brick and mortar retailers. Online sales is here to stay and… [Read More]

The Best Way to Draw Crowds to Your Store This Holiday Season

Small retailers looking to gain an edge this holiday season can follow these three tips from American Express OPEN Forum: Host Events An owner of a home decor store plans to host several events between Thanksgiving and Christmas to help increase holiday sales. She plans to participate for the third year in American Express’ Small… [Read More]

Retail Spending in Hampton Roads Remains Flat*

Retail Spending in Hampton Roads Remains Flat* Hampton Roads retail sales (measured through the 1% local sales tax), remained relatively unchanged between May-2013 and June-2013, at $1.77B per month. Although this is the highest level reached since Feb-2012, it lags 3.8% below the region’s peak sales of $1.83B in February-2007. Hampton Roads has outperformed Virginia’s… [Read More]

How the development of an outlet mall may impact existing independent and national retailers in the Hampton Roads region

With news of the proposed outlet mall project in Norfolk breaking recently, we’ve taken a look at the impact it may have on the local retail community in the immediate surrounding area and the wider Hampton Roads region. As many of you have probably seen, the City of Norfolk is in negotiations with Simon Property… [Read More]

Retail Pulse: Local Mother’s Day Retail Sales Fall Short of National Forecasts

This Retail Pulse Mother’s Day Edition tracked shopping trends in Hampton Roads, which stores benefited from higher sales, and the consumer’s willingness to participate in seasonal purchases. According to the NRF’s Mother’s Day spending survey, consumers were projected to spend an average of $168.94, up 11 percent from last year’s $152.52. Total spending was estimated… [Read More]