Retailers embark on a challenging shopping season
It's that time of year again.
With the back-to-school shopping season in full swing, retailers tried to lure buyers with promises of new fashions, discounted prices, and in the case of Vancouver furniture reseller Divine Consign – freshly-baked cupcakes.
"This is a really important time for retailers," said Jan Harte, an advisor at the Small Business Development Center at Washington State University Vancouver. "It sets the stage for the rest of the year."
At Westfield Vancouver Mall, a popular shopping destination for returning students and their families, marketing director Jessica Curtis said she expected this year's back-to-school season to post a slight increase in sales volume over last year.
"People are getting a little bit of ‘frugal fatigue,'" Curtis said. "They're spending. It's just that they're spending their money a little bit more wisely."
For many businesses looking to boost sales after a lackluster summer, the stakes are high.
The back-to-school shopping heavy month of August normally accounts for 8 percent of the mall's annual sales – a figure equivalent to the month of November, which includes the beginning of the holiday retail season, according to Curtis.
Some of the tactics on display at the mall this year include national chain retailer Old Navy's "Give & Get Event" from Aug. 26-29, with items priced down 30 percent.
Other, smaller shops are also getting in on the discounting trend. Lulu Suchinda, owner of Lulu's Boutique at Battle Ground Village, is holding an anniversary sale next week to celebrate her first year in business – and to give her business a boost.
"I know that people like to do last minute shopping," Suchinda said. "Hopefully, this will get more people in the door."
According to Harte, creative marketing strategies and flexibility in terms of inventory are key to success in a tough economic environment for most retailers.
"It continues to be a challenging atmosphere because consumers are saving more and spending less," she said.
Harte pointed to the continued expansion of e-commerce as one way retailers can expand their market and make up for a loss of local customers. She also praised creative business efforts to get more people into their stores, such as Divine Bites, a recently-opened in-house bakery at Divine Consign on Main Street in Vancouver.
"It's something you wouldn't expect – cupcakes in a consignment store," Harte said. "It gives buyers an excuse to come into the store and shop."
