It’s too expensive to manage a retail outlet when shoppers are willing to travel.
In almost every market, the number of traditional antiques stores continues to dwindle while other marketing channels — estate sale companies, auction companies, consignment stores and online venues — continue to grow.
One reason is that traditional antiques stores are expensive to operate and entail considerably more financial risk than alternative marketing channels. Another reason is that traditional antiques stores are less responsive to the social needs of the marketplace than competing companies.
These two business cornerstones — financial risk and social necessity — should compel antiques dealers to regularly re-evaluate their business models to determine if their financial risks vs. rewards are in balance and if their businesses are responsive to the social needs of their market.
Profits are paramount; they pay the bills and drive growth. But, profits aren’t possible without sales, and dealers who move beyond being “just another retailer” and embrace the social needs of the marketplace will discover that their phones ring off the hook and they make more sales than ever. Read More
Originally posted 2014-01-11 13:37:00.