Kurt Barnard
Kurt Barnard
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So far, this has turned out to be the year's great bargain hunt,
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Shelf space is diamond-encrusted gold. It's exposure to the consumer and everyone wants exposure to the consumer. They each had a lot of economic power before, but with the marriage they'll have a lot more power, power to get shelf space, preferred positions, all of that.
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We were dealing with a very cautious, very careful consumer who was not really inspired to buy anything because there wasn't anything worth buying.
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There are two conflicting forces at work on the consumer. One is people have jobs, they have money, the unemployment rate is still at a 30-year low of 3.9 percent, a lot of economic circumstances are very, very favorable. A lot of economic circumstances are very, very favorable, people have money and jobs, but they don't have as high a discretionary spending level as they did a year ago.
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The demand for the 'luxury look' is back. Americans want to be fashionable and elegantly dressed but that doesn't mean they want to go broke in the process, ... Consumers know that they can get that well-dressed look for an affordable price, and that's why the specialty apparel chains like Gap ( GPS : Research , Estimates ) and Ann Taylor ( ANN : Research , Estimates ) are performing well.
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A terrible problem for retailers is that most stores are evoking yawns from consumers, instead of excitement. Retailers just can't keep making the mistake of taking customers for granted by selling ho-hum kind of merchandise. Consumers are looking for unusual and exciting products and they're not finding them.
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All our surveys and research have demonstrated that consumer spending is very slow in growing and contracting. It resists change. We can expect this to last quite a while.
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It seems to be that a lot of these large chains are gravitating toward the advantages inherent in joint buying and obtaining lower prices and saving a lot of money in the process, ... ...It is very likely to be a powerful weapon in the retailer's arsenal to reduce the cost of buying and operating. And given the world of the Internet, which makes possible these alliances, it has to be recognized that consumers will find it so much easier these days to compare prices because all they have to do is click away.
It's going to be a one-time pop, and it's not going to be much of a pop, either.
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It's going to continue on this level for some time. Maybe if the weather really improves, we'll find a little pop to retail sales, but even if it does improve, there will still be the contraction in the economy.
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It's going to be a very, very strong day. No question about it. But the weather has me a little worried. The temperature has been way above normal and who wants to buy a heavy sweater when the temperature is 65 degrees?
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Its formula is essentially one that appeals to just about everybody, and that takes advantage of a fundamental need -- pay less than you have to elsewhere, ... It is a totally irresistible formula that, so long as there is such a thing as buying and selling, will not fail.
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They ought to go private. It makes it easier to make changes and what is more they will not have the personnel problem that always comes when someone totally new steps in and takes over the company.
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They have all learned one lesson -- make yourself more efficient. Operate more economically, and do more with less.