February 18, 2010

With retail sales expected to increase in 2010, retailers are implementing a variety of strategies to ensure they thrive in an increasingly competitive environment. 

The National Retail Federation stated at its recent annual conference that it expects retail sales to rise 2.5 percent in 2010, up sharply from a 2.5 percent sales decline in 2009.  Retailers are employing a variety of marketing and operational strategies to meet this expected rise in demand.  Inventory will be more tightly controlled, minimizing the need for costly clearance sales and allowing stores to take advantage of the psychological allure of limited quantities.  More private label merchandise will help stores continue building on their exclusivity, while still emphasizing value.  Stores also will be geared more toward service and the education of consumers about products, while events and entertainment will be increasingly common.  Lastly, stores are going green, both in the products offered and the design of stores.