Planning to grow your business and make money…can actually be fun! We are optimistic about the future of specialty tennis retailers in the U.S. This may seem odd considering we have pointed out in TIA Webinars the fact that retailing in America is in the midst of profound changes, and some industry observers are predicting that by 2020, half of all retail stores in the U.S. today will be gone.
In today’s highly competitive retail environment, with consumers controlling who stays in business and who doesn’t, it’s crucial that you have a firm understanding of the strengths and weaknesses of your specialty tennis retail business.
The authors of Nine Shift–Work, Life and Education in the 21st Century warn in their “Second Decade Predictions for the 21st Century” that the “number of retail stores declines by 50% (half) by 2020.” We clearly see this already happening across many different retail segments; just look at the empty retail spaces you probably have in your own communities. (You can learn more about “Nine Shift” at www.nineshift.com.)
As the handheld digital devices revolution has exploded, specialty tennis retailers’ use of email marketing to reach their customers will also have to evolve and change.
Store promotions around special events can bring a nice return on your investment.
Building retail store sales promotions around special events, such as product demonstrations, local tennis events, and national or international tournaments, are opportunities for specialty tennis retailers to create synergy and to make the combined marketing effort greater for the retailer than the cost — resulting in a higher return on your investment.
From RSI Magazine
While recent statistics show that men are beginning to do more retail shopping than in the past, women still buy the majority of goods at retail. As a tennis specialty retailer, are you addressing the needs of women when it comes to shopping? Do you and your staff know the different shopping habits between men and women? Do you know how to attract more women as customers to your retail store?
From RSI Magazine
Your independent and dedicated manufacturer and brand sales representatives are often overlooked as real resources in today’s fast-paced retail marketplace. But for tennis specialty retailers, they may well be your best resource.