Lifestyle Retailing For Entrepreneurial Retailers

How is it that retailers like Urban Outfitters, Anthropology, The Buckle, Aeropostale and Hot Topic seem to be able to defy gravity? In the last several quarters, each of these retailers have very positive posted results in an environment where very few publicly traded retailers posted a comp store increase of any kind. How are these stores able to do what seemingly nobody else can, particularly in the specialty store segment?

Each of these stores is testament to the fact that a strong, focused retailer can succeed spectacularly even in the toughest of economic times. Take Urban Outfitters Inc, which operates Urban Outfitters and Anthropology. Richard Hayne, founder and chairman of the company, has been widely quoted for his belief that “big is the enemy of cool”, and many observers have pointed out that the company would rather open a new concept in proven markets than saturate every last retail corner with new stores. They go on to note that no two stores are alike, that each store is given a great deal of autonomy, and that the company places a premium on execution.

All of these are valuable points to take away from the story, but there’s another lesson to be drawn that’s specifically applicable for any small, entrepreneurial retailer building a successful, sustainable strategy into the future.

Walk into an Urban Outfitters or an Anthropology store and you immediately sense that there’s something very different going on there. They are selling apparel and accessories, that’s obvious as soon as you walk in the door, but there’s also home furnishings and décor, as well as books and knick-knacks, even furniture here and there. Then you notice the store layout, fixturing and décor, the salespeople and the customers… the customers. The customers are the giveaway to this story. This store isn’t so much about stuff as it is about a mindset, an attitude, a lifestyle.

Building a store around an attitude or a lifestyle isn’t necessarily new, but seldom has it been done on the scale and with the impact that you encounter when you walk into these stores. Here you can glimpse the future of retailing in a niche driven, Long Tail world, and in these stores you can immediately grasp the immense potential for small entrepreneurial retailers to extend these concepts around their own particular niche and strategy. It’s been called lifestyle retailing. In fact, the very best small entrepreneurial retailers have been practicing lifestyle retailing for years.

Lifestyle retailing starts from a completely different premise than traditional retailing. It may seem like a bit of a cliché to say that lifestyle retailing is customer-centric, but, as you see when you walk into an Urban Outfitters or an Anthropology store, that truly is the differentiating characteristic.

Traditional retailing starts with the products and services to be offered. This may be the result of an entrepreneur’s particular product expertise, perhaps an entrepreneur’s background in a very specific market. It is product driven, and asks the question, “This is what we sell, who can we sell it to?” Growth is often defined as expanding the customer base, reaching a broader audience, finding more customers to sell to, and is measured most directly by transaction counts.

Lifestyle retailing begins with the attitude and lifestyle itself, and all that it represents. It is, by definition, narrow and exclusive, focused on a very clearly defined niche. It is customer driven, focused on a narrowly defined customer who identifies with the attitude and lifestyle, and aspires to be a part of it. It begins with the question, “These are our customers, what can we offer them that fully represent the lifestyle they aspire to?” Growth is achieved by offering these customers a broad array of offerings, in an almost infinite possible number of categories, and is measured most directly by units per transaction.

In lifestyle retailing, the physical store itself most directly defines the lifestyle, in its décor and ambiance. The store is unique, distinctive and conceptual. It is not merely a presentation of merchandise, it is a carefully considered synergy of space, materials, textures, colors, sounds, and aromas meant to excite the senses. Stepping into the store is to fully immerse oneself in the lifestyle, to experience the lifestyle and all that it represents.

The salespeople extend the experience, with their knowledge, interest and enthusiasm, in the very way that they engage their guests. They are actors on a stage, except this is not acting; for them this is real life. Their dress, hair, manner, speech and vocabulary are an integral part of the experience, for they are the very embodiment of the lifestyle. They interact with customers as they would with intimates, for to be part of the lifestyle is deeply personal. Their customers are part of the group, in a profoundly sociological way.

And within this context, business is transacted. Price is not nearly as significant an issue as in other retail strategies, because customers aren’t merely buying merchandise, they’re participating in the community, in the lifestyle. Assortments are often broad and shallow rather than narrow and deep because the lifestyle is the driver, and new items are the key to frequent visits and units per transaction. The merchandise itself may seem to be highly discretionary, but in fact is as essential as bread and milk because it is so closely linked to the customer’s sense of identity. It is, by definition, a fashion business.

As the retail landscape fragments between large-scale corporate retailing descending further into price-driven commoditization of mass market merchandise, and each consumer’s desire for things they treasure as a reflection of their individual interests, lifestyle and identity, the opportunity for entrepreneurial retailers is clear. A retail strategy built and marketed passionately around a personally held, clearly defined lifestyle or interest is the path to building a powerful retail presence and a very successful business.

Home Furniture Safety Tips to Help Protect Your Family From Accidents and Injury

Thousands of People are treated annually for injuries associated with furniture. The majority of these injuries and deaths are to children. Here are tips you may use to make your household environment safer for yourself and your family.

1. Falls are a leading cause of injuries and deaths in the home. To lessen the likelihood of falls, eliminate clutter, be sure rugs have slip-resistant pads, keep electrical cords out of walkways and clean up spills immediately.

2. Position or Place furniture in low-traffic areas such as corners and sections of the room, out of the range of mobility so that people do not accidentally run into furniture.

3. Shelves should be strategically placed in bedroom and living room areas to limit reaching. They should be low enough to avoid using a step stool but all items should be at eye level in order to find them easily.

4. Make sure furniture is stable and without sharp corners, if possible. This will minimize the chances of injury.

5. Make sure that furniture surfaces are smooth and free of splinters or rough edges. Nails, screws and other joiners should be tight and unexposed.

6. Be careful not to overload the shelves on bookcases. In some cases, it may be a good idea to secure the top portion of the unit to the wall to prevent it from tipping over, especially if children are present in the home.

7. Use the correct size furniture to house your television. Because of their weight, especially the popular larger models, TVs can fall forward if they are not properly supported.

8. Place TVs on lower furniture, as far back as possible. Use angle-braces or anchors to secure furniture to the wall.

9. Make sure that lids have safety latches that prevent the top from falling freely or slamming shut on fingers or a child’s head. Lids also should not lock automatically. If you have an older chest without safety latches, it is recommended that you contact the manufacturer for a replacement latch or remove the lid.

10. Arrange furniture so that outlets are available for lamps and appliances without the use of extension cords. If you must use an extension cord, place it on the floor against a wall where people cannot trip over it. Remove cords from under furniture or carpeting and replace damaged or frayed cords immediately.

11. Remove rugs and runners that tend to slide. Apply double-faced adhesive carpet tape or rubber matting to the backs of rugs and runners. Purchase rugs with slip-resistant backing.

12. Lamps or switches located close to each bed will enable you to get up at night and see where you’re going. Rearrange furniture closer to switches or move lamps closer to beds. Install night lights where possible.

13. Never allow children under 6 years-old on the upper bunk of a Bunk bed. Bunk beds should have guardrails on each side of the top bunk, with the side against the wall or opposite the ladder running the full length of the bed.

14. It’s a good idea to check periodically to make sure all screws, bolts, brackets and other joiners on your furniture are tight and secure.

15. To prevent tempting your children to climb on furniture, do not place enticing objects on tops of tables, dressers or bookcases.

16. You should not place furniture near windows where children can climb or fall out.

When shopping for home furniture, choose quality furniture that is not only comfortable and beautiful, but safe as well.

Take in Offbeat Johannesburg in Your South Africa Travel Plans This Summer

To locals, Johannesburg, the largest city of South Africa, is endearingly Joburg or Jozi; and when you are done with your visit to this teeming metropolitan town, there is likely to be a little endearment or two you have in mind for this place yourself.

Johannesburg is a vibrant city of great extremes. It has deep roots in European culture as well as African culture; there is business, culture and art of the highest order in its old world atmosphere and its glittering skyscrapers; and there are miles of shantytowns, traffic that knows no laws, and people, people everywhere. The city is home to some of the worst apartheid atrocities ever known of; and it is the home of an inspiring freedom struggle.

When you visit South Africa, travel to Johannesburg has to be the highlight of your trip; the city may be a bit dangerous in some of its seedier areas, but most of the places you would want to venture to are pretty great.

Let’s cover some of Jozi’s best offbeat attractions in pubs and restaurants, art galleries and everything else. Let’s start with Arts on Main, an exciting bunch of shops, all hidden away in a reclaimed warehouse right in the center of the city. The whole enterprise is a part of the city’s plans to take advantage of the history that the city possesses. There are galleries and little bohemian shops by the dozen that should easily take up a couple of hours spent exploring. Check out http://www.Artsonmain.co.za for details.

If you want a piece of history for your South Africa travel plans this time, try the Market Theater, otherwise known as the Theater of the Struggle. During apartheid times, the theater’s management felt that art could have a great contribution to make to the country’s political struggle, and frequently put up shows that challenged the government’s policies. A visit there today, and you’ll see some of the best that South Africa’s arts and music scene has to offer. Check out http://www.Markettheatre.co.za for details.

Keeping with the apartheid theme, how about a trip out to the suburb of Soweto, a massive place that all blacks in Johannesburg were forced to leave for each evening in the apartheid era, after their work in the city was done? Soweto featured prominently in the country’s freedom struggle, and is home to hundreds of thousands black South Africans. Things aren’t as desperate around here as they once were. The economy in Soweto is booming, and the energy in the air is palpable. It would have to be, what with two Nobel Peace Prize winners living there, on the same street (Vilakazi Street) no less. What South Africa travel plan would be complete without a visit to Nelson Mandela’s home (converted into a museum now)? For a little authentic Soweto cuisine, try the Nambitha Eatery, the Sakhumzi Restaurant and Wandies Place. You could be in for a treat with ox tail stew and other South African delicacies.

If you truly want to get in touch with the earth in South Africa, travel to the world heritage site of the Cradle of Humankind. It’s just a half-hour’s drive outside the city, and here you will find stunning exhibits of exactly where it is that the human race came from. The Sterkfontein Caves are a part of the tour, and they contain the oldest fossils of pre-Homosapien primates ever found. Or how about trying the site of one of the lustiest gold rushes ever, the Old Kromdraai Gold Mine?

Some Unnecessary Small Business Expenses to Avoid

When you start a business, you have to be extra careful with how you spend your capital. There are many ways for small business owners to increase their profits. Reducing their costs is one of the simplest and most effective ones. A lot of the times, entrepreneurs would add costs to their budgets that they don’t necessarily have to make. It might appear to them that these are necessary expenses when that’s not the case. They can add many of these expenses once their business has established.

Expenses That Small Businesses Should Avoid

Excessive Advertising

Yes, advertising is quite important for businesses, but excessive advertisement is not. It still makes sense for large businesses to go full-on with advertising because they have the budget to do so. However, when it comes to small businesses, they must do intelligent and selective advertising only. Their first course of action should be to identify the advertising channels that work best for them. Just because you are a restaurant at the corner of a street does not mean you have to use awnings, vinyls, neon signs, and all other types of materials for advertising purposes. Pick the ones that work and skip what doesn’t.

Too Many Work Hours

You don’t necessarily have to follow the trends of your competitors to compete with them. It does not matter how good they are, even the best ones can make mistakes at times. Many business owners choose to keep their premises opened for customers for long hours. They will open the business early in the morning and close it late at night just so they can serve more customers. However, one must do cost calculation before taking such a step? What if you are getting only five customers in the first three hours of the business and five more at the last two hours?

Now imagine the cost of utility, wages of your employees, etc. Are you covering the costs of keeping your business opened for five additional hours with only 10 customers? Even if you want to continue this way, you better test it for a week only. If the response is cold, you should quit this practice as soon as possible.

Pursuing the Best of Everything

The idea sounds great but is not the way to go about doing business when you are in your early stages. You should spend your money on things you need, not the things you want unless you have the budget to do so. If you are renting space for your office, you should look for a place that you can easily afford. Going for the best location in the most commercial area will cost you a lot of money. You can save your money even when it comes to internal equipment. Why buy new couches, seats and brand new computers when you can do with high-quality used equipment?

Why go for a printer with fancy looks and capacity to print hundreds of pages in a minute when you won’t ever need that many printouts at a time? Go with simple and beautiful when it comes to decorating your office. You don’t want to spend your budget on things that are not going to yield any benefits for your business.

Hiring IT Staff

IT is integral to any business today, tech or non-tech. However, it does not mean you have to have an IT team on board. One of the beauties of modern technology is that it allows you to outsource a lot of the business processes. The best thing about outsourcing business processes is that you can save a lot of money by doing so. Managed IT services are a perfect way for you to save IT costs while benefitting from expertise of the best professionals of the industry. Rather than paying thousands of dollars to three or four IT people, it makes more sense for small businesses to outsource their IT processes for a small monthly fee.

The good news is that you can outsource almost anything IT-related. From basic helpdesk to on-demand data officers, IT outsourcing can cover a lot of ground for you.

Unnecessary Debts

Taking loans when starting a business is imperative for your growth and to have enough cash in hand to support your operations. However, there are more ways to fund your business than you might realize. Many small business owners follow venture capitalists and conventional banks when it comes time to fund their businesses. However, crowdfunding has emerged as an amazing funding option for startups and small businesses. The good thing about crowdfunding is that you do not necessarily have to offer equity to the investors in your business. Sometimes, you can just reward them with a sample of your product.

Hiring Only Full-time Employees

If you own a small business, you might want to consider hiring interns. Interns can benefit your business in many ways. First, you do not have to pay them the salary of a full-time employee. Second, you can ask them to do a lot of the mundane tasks that otherwise affect the productivity of your full-time employees negatively. While it might not be the best practice, in some countries of the world they have free internships as well wherein you do not have to pay your interns. However, that’s not the right thing to do, and you should compensate their work to keep them motivated.

Conclusion

You should consider avoiding these expenses if you are a small business owner or about to be one. You can always take advice from those who have their own businesses to figure out what’s necessary and what’s not. Keep yourself up-to-date with new technological advancements. Taking advantage of modern software and hardware solutions can help you save a lot of money. Take the example of a printer with duplex printing option. You could cut your paper costs in half by printing on both sides of the paper. In the end, look into your current setup and operations to see what some expenses are that you can easily live without.