In August, Lucero noted how customers seemed a little more upbeat about the economy, though they continued to be cautious about spending. Things slowed rather than improved. Nevertheless, she remains positive.
The past quarter has been a difficult one at the shop. In keeping with retail reports across the country, sales have been very slow. I was pretty optimistic this summer, as there were a lot of new people walking through the neighborhood, and more of my loyal customers were returning. But once September hit, sales and traffic slowed down dramatically.
When I think back on the year, I see that there were the typical seasonal ups and downs, but overall, sales were down. In the last quarter, they went down significantly.
On the upside, I’ve used the slow time to develop new clothing designs and to prepare for the holidays. I’ve stocked the store with inexpensive and whimsical gifts and done my best to keep my pricing lower to accommodate my customers’ challenged budgets.
My e-commerce website has now been launched and I will start aggressively marketing the site in January.
I have also seen that as retail sales in the neighborhood have picked up, my boutique is beginning to feel the positive effects of people having a little more money in their pockets.
In the big picture, I see that the retail industry is changing dramatically. A lot of stores, large and small, are suffering right now, with few exceptions. When all is said and done, I believe retail won’t be the same. I’m riding an unpredictable wave but believe it’s important to not look back with regret. Change can be scary, but also exciting. I’m looking forward to the new year with anticipation.
