Looking good. That’s the consensus of retailers who participated in the Spring 2007 Store Owners Survey sponsored by The Retail Owners Institute. Half of respondents said year-to-date sales are up over last year, and 66 percent predicted 2007 sales will surpass 2006 sales.
Sixty percent projected net profits will increase this year over last year.
A survey question asking owners for their top priority for reinvesting in their stores produced a three-way tie with equal numbers of retailers saying they would (1) improve their customer base; (2) improve their stores; and (3) improve their store personnel.
Interestingly, store owners who reported depressed year-to-date sales and seriously decreased margins said they are 100 percent more likely to reinvest in their buyers, point-of-sale systems and in “guerrilla” marketing techniques.
Half of respondents own a single store, 30 percent own two to 10 stores and 20 percent own ll or more stores.
The Retail Owners Institute bills itself as “the foremost self-help resource for retail financial professionalism.”