It’s no secret that many brick and mortar retailers have been struggling lately. Some examples include:
- Sears has had declining sales the past few quarters and now, in what the Wall Street Journal is calling a “bid for time,” the company has sold its Craftsman tool brand to Stanley Black & Decker for approximately $900 million.
- Macy’s sales and shares have continually dropped, and have thus led the retailer to make many employee cuts numbering near 10,000. It is expected that their locations will continue to close.
- Wet Seal filed for Chapter 11 bankruptcy again last week – the chain plans to close all stores since it was unable to find capital or a buyer in the past year.
The holiday season is upon us, and businesses everywhere are gearing up sales and marketing campaigns to reap a harvest from the seasonal consumers’ huge spending spree. One company has found a way to use holiday packaging to add a brand asset to its already immensely popular drink menu -The Starbucks Red Cup campaign.
Each year since 1997, Starbucks has presented its Red Cup campaign to observe the holiday season and embrace the perfect Eggnog Latte, Peppermint Mocha, or Holiday Blend. The Holiday Red Cup design has changed over the years, but it always incorporates the company’s iconic and seductive Siren woodcut along with the bright red color emblematic of this season.
Small business owners would do well to look at the methods much larger retail outlets use to turn lagging sales and profit around. Most recently, the retail giant Walmart has experienced a 9.6% sales surge and is expecting to draw over $112 billion in revenue this year. The chain of discount department stores has faced increasing competition from Amazon, as many shoppers value the mail-order giant’s responsive customer service and competitive pricing.