Major retailers are changing the way they do business because of the recession, a recent . Here are some of the changes comes to Sears, Neiman Marcus, Saks, Wal-Mart, J.C. Penney, Macys, PetSmart, Target and Home Depot.
- Fewer items in stock because retailers can’t afford to sell extra merchandise at deep discounts. (Wal-Mart)
- Fewer brands to choose from to streamline the shopping process and require less stock on hand. (Wal-Mart, Target, Home Depot, PetSmart)
- Greater connection between in-store and online sales facilitated by in-store computers that lets customers check where an item is available. (Sears, J.C. Penney)
- High end stores will carry more “mid-priced” merchandise. At Coach, about 50 percent of the handbags will fall in the $200 to $300 price range, up from about 30 percent last year. (Neiman Marcus, Saks, Coach)
- Greater regionalization of merchandise that reflects what local customers are asking for and buying. (Macys)
- Shorter lead time for merchandise. I.e. no more swimsuits in February. (multiple chains)
- Greater connection between a retailers and a specific designer, which means more exclusives and fewer price wars because stores will not sell the same item. (multiple chains)
- Better customer service. (Home Depot)
These seem like fairly reasonable ways for stores to adapt. We could grumble over some of these changes, but as a consumer society if we are not willing to spend like we used to, how do we expect retailers to operate as if we are?
Welcome to Niconail! I’m Niko, and I’m so glad you’re here. I am an obsessive bargain hunter and penny pincher, and I am determined to live a full life without EVER paying full price.
Better customer service at Home Depot? Sounds good to me. I was there last week and most of their employees were interested in socializing with each other than helping me find what I needed.
Everytime I USED to go, it was so hard to find anyone to help me, let alone make eye with for “hey I need help!” I now shop at LOWES.
The very best customer service I have experienced was at a Coach outlet. Very Knowlegable and friendly staff. Excellent product and warranty. When I need a new purse…I am definetely going back to Coach.
well i dont like it i went to macys and nothing was there i went to all the stores and got nothing no where had anytihng good on sale and the stuff that was full price was all picked over and nothing i wanted to see and i dont mind buying a bathing suite in fed that way i know it will still fit im at my winter weight if i loose it then ill get one on sale
I have also noticed fewer SKU’s at Wal-Mart and Joanns.
If better customer were the only thing that were to happen as a result of the recession, I would be happy as a clam. Customer service is pretty much non-existent these days, which is ridiculous considering people don’t want to spend their money. When customer service is good, I frequent the retailer, resulting in more sales for them. I also recommend it to my friends and family.