Friday, June 26, 2009 10:20 PM CDT
More retailers try different buying plan
By the JG/T-C
editorial@jg-tc.com
Peter Pishko, Vice President Operations for One Step Retail Solutions, recently reported in the June 2009 issue of “Retail Buzz” what seems to be a prevailing small change in Standard Operating Procedure for a lot of retailers.
Pishko states that some small- to mid-sized retailers have reported success in buying less merchandise more often in an effort to maximize their merchandise turn. What a great concept! They are interacting with their customers on an immediate basis to determine their needs and wants, and then delivering the products that they will buy.
This change in SOP is a challenge to vendors to step up and give retailers what their customers want. With the recent increase in consumer confidence (highest it has been since September 2008) the prevailing winds of change are upon us. Customers are venturing forth, albeit with slower momentum.
Now more than ever, it is important that retailers not get caught without merchandise to sell. Proactive retailers can keep ahead of the curve by carefully monitoring what your customers are saying, noting what your employees say the customer is looking for and demanding cooperation from your vendors.
However, with the economic downturn, retailer orders have backed off, causing a decrease in manufacturing output for most vendors. Acknowledging this fact, the best option may be to source domestically.
Domestic manufacturers are in a much better position to turn orders faster, even when they do not maintain large overstocks. If you are a retailer, consider buying from some new domestic vendors that can possibly provide you with the immediacy that you require and what your customers are demanding. If they want it, they want it now and if you don’t have it, someone else will.
Town Square Jewelers
is member of the month
The Charleston Area Chamber of Commerce “CELEBRATE” committee has as its mission to recognize, honor and celebrate our member businesses and to encourage area residents to “Buy Local.”
We are pleased to introduce a new feature called “Chamber Member of the Month.”
This month we are recognizing Towne Square Jewelers who was also honored as “Small Business of the Year” at our Annual Dinner last January.
From its inception, Towne Square Jewelers was founded on the philosophy of using their skills and knowledge of gemstones, precious metals, and artistic design to enhance the customer’s enjoyment and pride of ownership of fine jewelry.
Owner Terry Davis looks at jewelry in terms of emotional value. Whether it is a $20,000 engagement ring or a $20 bead necklace once owned by a great-grandmother, it is the emotional connection represented by the piece that is important, and Davis and his employees treat each with the same type of care.
Towne Square Jewelers is focused on sales, custom jewelry design, appraisal and the in-house repair of fine jewelry. Davis says they are also continually upgrading their knowledge and skills to guarantee their customers the finest service available.
The business was started under previous ownership as Hagel’s Jewelers on the west side of the courthouse square in 1977. In 1980, Davis came to Charleston as the store manager and in 1984 bought the business and changed the name to Towne Square Jewelers.
Davis moved the store to its present location in the West Park Plaza on Lincoln Avenue in 1992. Since that time Davis has doubled the size of the store and expanded services to include custom jewelry design and laser welding services, allowing the repair of platinum, titanium, and other more exotic metals.
Davis’s business employs six people and he readily recognizes that they have been key to the success of his business. The business is active in many trade organizations and Davis is a three time winner of the Illinois Jewelers Association Jewelry Design Contest.
Towne Square Jewelers has been a member of the Chamber of Commerce for over 20 years and has donated his time and service to a variety of community organizations.
We are proud of our members and appreciate the vital role they play in our community’s economy. As always, it is important for us to remember to support our local businesses. Supporting them keeps our local economy strong. Buy Local — It’s Your Choice!
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