If it feels like yours is half empty, pour more in!
By Jim Ristow, AVB Inc.
It is easy to take one look at the prevailing sentiment among many U.S. retailers and conclude that in terms of business, the cup no longer runneth over. But while the cup may not be overflowing, it is far from empty.
The reality is that things are better now for independents in this space than most people would have predicted a year ago. That is particularly true if you are a BrandSource member. While the post-pandemic gold rush is over, BrandSource members are once again outpacing the industry and trending upward.
We have reclaimed some of the gains the box stores carved back as they recommitted resources to bringing customers back through their doors. What’s more, these gains have come amid a challenging backdrop of nagging inflation, steep mortgage rates, a stagnant housing market and constrained margins.
And here’s more good news — we have all the tools to beat our rivals at winning over even more customers. It is no coincidence that members who have plugged in to one or more services from the AVB toolbox are faring considerably better than those sitting on the sidelines. In fact, engaged members are doing a full 10% better than their passive counterparts.
There is a catch, though. These solutions only work if you take the initiative to take advantage of what is available to you.
My advice is simple: Focus on what you can control, use the tools at your disposal and stay the course. The ball is in your court, so go on the offensive by defining a single solution that will improve your business. The BrandSource team is always here to help you.
The independent retail channel is, by nature, nimble and adaptive. There are few challenges that we can’t tackle when we put our collective heads together. I never underestimate the power of you (and the group) to find fresh, innovative ways to generate more demand for our products and services.
Now, getting back to my original question, is the glass half full or half empty? I’ve heard it said it all depends on whether you’re pouring or drinking. Either way, my glass is always half full.
Looking forward to raising a toast to you next time we meet.
Jim Ristow is CEO of AVB Inc., publisher of YSN and parent of the industry-leading BrandSource merchandising and marketing co-op for independent appliance, mattress, furniture and CE dealers.
