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Ultimate Electronics - A Phoenix?
"Ultimate Electronics signed a lease on an old Circuit City building and is about to sign another," CoStar.com. 9-30-09.
Ultimate Electronics is on the rise - again. The quote above appeared online at CoStar.com which is the engine for commercial real estate companies across the US. There is talk that Ulimate is out looking for as many as 30 stores in California for next year.
Channel vets will remember the rapid rise and descent of this electronics chain out of Denver. At a time when CompUSA, Circuit City and others were struggling to maintain they tried to explode. And they did - or rather imploded. Can they do it again, but get it right this time?
There certainly is far less competition in retail storefronts. Only Best Buy on a national basis carries depth in the categories. I say they have a good shot.
Who knew we'd miss Circuit City?
What Are Retailers Waiting For?
July retail sales are coming out today and there is very little good news. Target is down more than expected. Macy's off more than 10 points. The GAP is down 9 points. The Back to School time period should be a perfect time to get creative but it doesn't look like anyone is.
What we can't figure out is why retailers are not stepping up? Restaurants sure are.
Let me tell you - this group gets it. This is not the time to do "business as usual" or to "return to basics" or maybe just cut expenses and "ride it out". Restaurants are really adapting and marketing to bring in traffic. They have pulled out all the stops.
Roy's was one of the first to get going with their 3 course prefix meals at great prices. They started a year ago. TGIFridays created all multi course meals, something called "Right Portion-Right Price". Almost every other major restaurant group has come up with some kind of special price or special portion.
Even boutique restaurants are creative with happy hour specials, early bird dinners, late night appetizers, you name it.
How come retailers can't take the hint and get going?
How about special sale hours during the week? Say 4-6? Maybe partner with a restaurant chain and work a deal that pays the customer for shopping and eating at both?
How about a new spin on the old frequent buyers card? Family underwear purchases that result in a reward after so many purchases?
It is Back to School time? So how about a retailer donating to the local school district a portion of the nights sales? 2% to the Buckeyes? 2% to the Cougars? Wouldn't Mom look to make her money work in more ways than one?
Come on Retailers! Get a clue from your brethren in the Restaurant Business! Get Creative and Get More Customers in your doors!
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