Store Owners Report Positive Results
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."
