Stores loose money on Boxing Day sales?

Any Cottage Industry as a whole has unique issues, but the most specific issue is that most suppliers will sell to anyone...hence the cost of items is well know and most people with an internet connection can figure that out.

This LFS industry is therefore based on three things...1. Things die 2. How do you keep the customer coming into your store after those things die. 3. When they come back...things die...back to thing 2.

Simple...but hey...i'm thinking i want to own bridges...

All the best.


Wendell

[Coralgurl]

I work in commercial real estate and even though we have just gone thru a recession, rents in this city especially retail remained strong, with low vacancy rates. Therefore most retail tenants have likely seen their rents increase over the last couple of years in this city. As many of you remember, labour costs soared a few years ago and while most contracts and service providers have been able to stabilize their costs, no one dropped their prices, they simply kept them where they left off. I have never seen a landlord drop their operating costs, always increases. I can drive around this city and have a pretty good idea of what rents are, hence the locations of the smaller lfs. When a business is paying thousands a month in rents alone, utilities, staffing, plus the cost of stocking their stores, I am amazed at who stays in business. I've seen many mom and pop stores just not able to make it, even franchises and national tenants close down, so I always have admired those who start or maintain a business successfully, honestly and with integrity.

I don't boxing day shop, hate the crowds and really don't see the big deal. I went to a couple of stores this year, late in the afternoon, missed the rush and got what I needed. I know which stores I will continue to shop at, not for pricing but for the service. I've received a few freebies "just to try" in my tank rather than spend money on something that won't survive in my tank. Ive considered buying stuff that i was talked out of bec it was a waste of money, and i was thankful. That is what will bring me back. Walking into a store I've been in 3 times and being called by name (happened today). Everyone is out to make a buck, so what? Boxing day is a rip off, sure there are deals to be had...take what you want and leave the rest!

Just my 0.02