Despite a flurry of negative news, especially in fourth quarter, don’t forget that what you do -- offering treasured, memorable and lasting gifts for individuals to give their loved ones—is relevant in both good and bad times. Looking ahead to 2009, industry analyst Ken Gassman, who contributes to IDEX Magazine, says retailers should plan for a “down” but not “dramatically down” year.
As you look to the New Year, keep in mind these industry stats from Gassman:
- It’s not the end of the world. Gassman reminds us that we’ve had worse economic challenges. He also reminds us that jewelry is no fad. People have been wearing it for 50,000 years or more.
- Recessions are a normal part of the economic cycle. Since 1854, Gassman says there have been 32 cycles of expansions followed by contractions in the U.S. economy.
- A recessionary environment rids the system of excesses. Be strong and smart and your business will survive and emerge stronger.
- Smart business leaders take advantage of downturns. Use this environment as an opportunity to position your business for the future.
Take The Tip:
Click here to read Gassman’s full 2009 forecast at IDEX Online.
Mr. Gassman is exactly on-target. Now is not the time to be short sighted but a time to step back and take a big picture, whole world view for 2009. Romance and sentiment do not go out of style and while the negative press might not allow us to have a banner year, we will survive by being conservative and doing what we do best, taking care of each customer to the best of our ability.
Posted by: William Sites | December 31, 2008 at 09:29 AM