Longtime retailer presents 'ex-factor' for retailers |
Written by Felicia Abraham |
Wednesday, 18 July 2012 09:28 AM America/New_York |
A third-generation Christian retailer presented the 'ex-factor' to approximately 40 fellow retailers Tuesday with hopes of encouraging them to be relevant in today's retail culture. In the “Retail Trends: What Do Your Customers Say?” workshop, Covenant Group founder and President Chuck Wallington shared tips and pointers to help retailers become “the preferred choice of modern customers.” “Today's shopper is more empowered than ever,” said Wallington, owner of Christian Supply in Spartanburg, S.C. “They can do more with what's in their pockets. They can access customer reviews [of products]. They're savvy. … What do we do about it? If you're looking for a silver bullet, the Lone Ranger died a long time ago. The answer is different for each one of us. We have to figure out what works.” Wallington then discussed his five “ex-factor in retail trends”: Examine (take a look at your store with your “customers' eyes”); Exploit (find ways to leverage our brick-and-mortar advantage over online competitors); Expand (find products you “can own” and get decent margin with them); Express (find ways to connect with your customers through old-fashioned media such as thank-you cards and new media such as Facebook and Twitter); and Exit. “If you're not going to change, you might as well exit,” said Wallington, whose Covenant Group offers ebooks and recently launched a mobile app. “The good old days are not coming back. … We absolutely have to make it. I encourage you to stay the course and finish the race. Most of us feel a deep sense of calling that this is what God wants us to do.” Joanne Sheehand, manager of Promise Book Shoppe in Tarpon Springs, Fla., told Christian Retailing that Wallington's presentation was both “encouraging and enlightening.” His five bullet points “help me apply and retain what I learned for our shop,” she said. “I'm now seriously looking into ebooks.” Fantly Smither, who attended the workshop with his wife, Elizabeth, agreed. “He was very helpful because of his experience and retailing savvy,” said Smither, who is seeking to open a store in Frankfort, Ky. “We are prospective retailers, so anything we can learn is helpful.” |