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Infographic American Shoppers Spend $19 billion On Valentine’s Day!

2015 Valentine’s Day Spending Stats

The NRF is reports Valentine’s Day spending at $19 billion with more than $142 per person as +60% of consumers say they will celebrate with purchases this year. Ebates.com announced a new Valentine’s survey that reports 39% have smartphones as a top choice for Valentine’s gifts for her, and him. With iPhone6 deals and iPad Air deals will surely creep into Valentine’s gift lists, we fully expect spending to exceed $20 billion this year. The trend to get something techie may not be as romantic as chocolates and flowers, but there are apps that can simulate a whole lot more than taste and fragrance! Traditional gifts will still be a boon for retailers though as half are expected to buy candy and 1/3 or more will once again buy flowers, with males outspending females 2 to 1. The guys may want to visit FatWallet’s Valentine’s Deals to find increased cash back and coupons to help them save some dough!

25 Valentine’s predictions and fun facts that indicate a 2015 shopping spree…of those who celebrate Valentine’s Day:

Valenitnes Infographic-600

Sourced from fatwallet.com
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Working in Retail, Where have all the jobs gone?

Andrew Kelly/Reuters

When it comes to the business of stocking stuff in rooms with roofs, this has been a nightmare week. Three decades after selling its first personal laptop in 1983, Radio Shack is finally done. The company announced it is filing for bankruptcy just hours after Staples announced its intention to buy the beleaguered Office Depot, which itself merged with OfficeMax. The office-supply chain business is wilting, just as the electronics triumvirate of Circuit City, Radio Shack, and Best Buy has been reduced to one.

The mournful reaction to Radio Shack’s demise is steep with empty nostalgia, and unless you’re a small business owner, the news that there will soon be a solitary brick-and-mortar brand to fulfill your orders for 20,000 Bic pens and 2,000 manila file-folders will not incite much tender weeping. But the incredible shrinking retail chain story is a part of a greater demise that deserves some measure of grief.

It’s not just about the fall of the once mighty paper-pens-and-paper-clips business. It’s not just the national vigil for Radio Shack, summarized lovingly in grainy this-whole-store-fits-in-your-pocket memes:

 

It’s also the utter collapse of JC Penney. And the trend stories about malls becoming ghost towns. And six consecutive quarters of same-store sales declines at Walmart through 2014. And a deepfreeze among home furnishings companies, and permafrost in dollar-store land.

Retail was the most significant economic industry in the second half of the 1900s. We filled out homes with stuff, and we bought the stuff in stores, made with bricks, filled with people, who were paid to facilitate the transaction.

Since the turn of the century, however, retail employment has been frozen in Carbonite. Real personal consumption expenditures have grown by $1 billion since the recession, and the private sector has added 2.4 million new jobs. But the retail sector has lost 60,000 jobs in that time. Today the stuff that fills our lives is increasingly intangible (college and insurance) or invisible (the Internet and apps).

Upon closer examination, though, retail is not suffering an across-the-board chill. Employment at supercenters like Costco and Sam’s Club have grown by 25 percent since the Great Recession started at the end of 2007. But discount stores (like Dollar Tree), clothing-only stores (like Gap), and department stores (like JC Penney) are more than 400,000 jobs lighter than they were when the recession struck. That is the equivalent of about ten weeks of national job creation.

Since 2000, the performance of supercenters and supermarkets has lived up to their first two syllables. But electronics stores and office-supply stores are bleeding red. Job cuts have not been enough to spare Radio Shack and Office Depot.


Costco Up, JC Penney Down: The Retail Jobs Landscape

BLS

You don’t need a long explication to see what’s going on here. Walmart brought ruthless efficiency to the business of selling stuff in stores, and Amazon brought more ruthless efficiency to the business of selling stuff anywhere, so that today, to be a retail salesperson or cashier—still the two most common jobs in America—is to compete with the convenience of a laptop and a couch (or, even worse, a smartphone search filling a spare moment of boredom). As Radio Shack’s story shows, when companies go to war against price and convenience, they tend to lose—first go the jobs, then goes the company.

Retail employment is not “dead,” even in the media’s liberal interpretation of the word. Many people love shopping—as an experience—and take more psychic glee from an afternoon out browsing, touching, and bagging merchandise than just about anything in their lives. (And that’s okay!) But as Amazon, eBay, Instacart, and the websites of brick-and-mortar stores primp their digital storefronts, price and convenience will triumph, again and again. There is little reason to think that the most important employment engine of the 20th century will continue to pump through the 21st. The future will be cheap, and it will be convenient, but much of it will lose the personal touch of, well, people.

 

Sourced from theatlantic.com

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No, The Customer Is Not Always Right

Submitted by Rachel Morales on The I Hate Working In Retail Facebook Page

How many times have you had to grit your teeth, take a deep breath and silently repeat to yourself, “The customer is always right”? This is a motto that’s drilled into every young retail or hospitality worker, and has somehow made its way into the psyches of established business owners.

The problem is, the customer isn’t always right, and always thinking otherwise can result in serious disservice to you, your employees, and your customers. Here’s why.

1.    Unreasonable customers eat away at your finite resources.

You only have limited resources available to you; don’t allocate a disproportionate amount of them to customers who repeatedly cause problems. You only have so much time, money and energy to dedicate to customer service, or to your business, and an unreasonable customer or client can quickly eat away at the majority of it.

If you’ve tried your best to address a complaint and the customer still isn’t happy, it’s time to move on from that customer. Use your limited resources to address the concerns of customers who are willing to engage in reasonable dialogue with you. When you focus on meeting the needs of your reasonable customers, you build loyal brand ambassadors…and I’d rather have a bunch of these than throw all my resources at customers who are impossible to please.

In his book Customer Centricity, Peter Fader encourages business owners to focus on the customers who matter most: “Not all customers deserve your company’s best efforts. And despite what the old adage says, the customer is most definitely not always right. Because in the world of customer centricity, there are good customers…and then there is everybody else.”

In Tim Ferriss’ wildly popular and successful book, The 4 Hour Workweek, Ferriss recounts a personal story early in the book which details how he nearly hit his mental breaking point because he was trying to please every customer. He soon discovered that a few customers were taking the majority of his bandwidth and causing the majority of his stress, though they contributed only a relatively small percentage of the company’s total revenue. His solution? He gave the clients an ultimatum: if they couldn’t do business his way, he didn’t want to do business with them at all. The result? Some of the clients changed to accommodate Ferriss’ requests. Others refused to change, so he fired them. Ferriss’ mental overhead drastically decreased, and his business soared as he only accepted clients that fit his ideal customer model from that point onward.

The lesson here is to allocate the majority of your valuable resources to your good customers, and stop trying to please everyone all the time.

2.    This mindset positions employees against customers and management.

If you’re lucky enough to have found employees who you trust and respect, don’t risk losing them by siding with the customer by default. When you tell your employees “the customer is always right”, you immediately position them against the customer – and the customer always wins.

If you want to keep your employees happy and effective, back them up. Prove to them that you respect their judgment and opinions, and when faced with siding with your employee or an unreasonable customer, always choose your employee.

According to Alexander Kjerulf, author of Happy Hour is 9 to 5, happy employees lead to the best possible customer service: “Believing the customer is always right is a subconscious way of favouring the customer over the employee which can lead to resentment among employees. When managers put the employees first, the employees will then put the customers first. Put employees first and they will be happy at work”.

Putting employees first may also lead to an increase in perceived control among employees. And according to Ravi Tangri, author of Stress Costs, Stress Cures: How to Recover Productivity Lost to Stress, this increased control can have very concrete benefits: “Workers with high levels of perceived control are not as likely to report high levels of conflict or interference between work and their family lives. The more control an employee feels over his own health and over things that happen to him at work, the less likely he is to report absences totaling six days or more in the previous year.”

3.    Money isn’t everything. Not even close.

We’ve all had customers or clients who have unrealistic expectations of what we can or should do to keep them happy. They demand – whether explicitly or implicitly – more of our time, energy and resources than our other clients.

It was recently reported that Chicago-based ad agency Cramer-Krasselt fired big-name client Panera Breads because of a poor working relationship. In a leaked internal memo, the agency claimed that the troubled working relationship just wasn’t worth it. In the memo, Peter Krivkovich, chairman-CEO of Cramer-Krasselt wrote: “There comes a time when no matter what the acclaim for the work, no matter what that visibility, no matter how good of a relationship we have with the marketing department…in the end, no amount of money makes it worthwhile.”

Don’t be afraid to cut ties with customers or clients who repeatedly make unrealistic demands or who consistently cause stress or friction. Rather than continually sacrificing your time, dignity and emotional health, focus your efforts on actively pursuing new customers or clients who respect your time and boundaries.

Final Thoughts

Just because your customers aren’t always right, doesn’t mean you can’t learn from them. I love the Bill Gates quote: “Your most unhappy customers are your greatest source of learning.” If you have a customer or client who is seemingly impossible to please, learn from them; this doesn’t mean you need to keep them as a customer, but ask yourself what you can do differently in the future to avoid a similar problem.

I would also like to note that I’m not suggesting we simply give up on resolving conflict with customers. I’m simply saying this: Look at the bigger picture when dealing with consistently unreasonable customers or clients. Look at what’s really important, and ask yourself if repeatedly attempting to please an unpleaseable customer is really the best business decision.

What do you think: Is the customer always right? If not, how do you know when ‘enough is enough’? Share below!

 

Sourced from forbes.com

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