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CU Medallion [59974]
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Retail Observations
May 11, 2020, 6:56 PM
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I have 2 accounts which equal close to 1000 doors. About 400 are open. Here is what I am seeing.
E-commerce sales are up triple digits (percentage for all these stats) and no slowing down, actually gaining 10-15 points a week.
The doors that are open have been doing so about 100 a week for each retailer. Give or take. The first weeks sales were absolutely abysmal. My planners ran some POS numbers this morning and the past two weeks they are up, brick and mortar, 60+%.
It is unbelievable what is happening in the doors that are open. Foot traffic is up, units sold are up and sales % is up. Now margin is taking a beating as Spring/Summer in retail is over at this point. It’s all about selling down and making room for early Fall sets.
The numbers I am seeing out of Brick and Mortar and the Segment Research Calls I am on, indicate that people are begging to get into stores and spend money.
I am no economist and I am not predicting anything, but my gosh so far, if we do not have a second wave, many could be looking at a sales record year. I am only down single digits after 12 weeks of lockdown.
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Hall of Famer [22930]
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Are you a door-to-door door salesman?***
May 11, 2020, 8:04 PM
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CU Medallion [59974]
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Re: Are you a door-to-door door salesman?***
May 11, 2020, 8:07 PM
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All-In [40868]
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I didn't get any stimulus money
May 11, 2020, 8:07 PM
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but I'm going to the mall next week to spend some money, n95 and hand sanitizer is ready!
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CU Medallion [59974]
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Re: I didn't get any stimulus money
May 11, 2020, 8:17 PM
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you and SwimminTiger® are two VERY underrated posters in the Lounge.
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All-In [29076]
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Am I underrated or am I just never here anymore?***
May 12, 2020, 8:57 AM
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All-In [48078]
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Re: Retail Observations
May 11, 2020, 8:07 PM
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I believe you. Look at hotels in San Sebastian Spain, they are filling up fast. Airlines are getting booked. People are chomping at the bit.
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Hall of Famer [21833]
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These past few weeks have been our busiest
May 11, 2020, 8:22 PM
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By a long shot. E-com and food / beverage are going nuts. Our brick and mortar customers who put everything on pause are starting talks back up. It’s insane. The rush to make up for this ######## is going to be a wild ride.
Dawghater2she works for a hotel at corporate. Hopefully she can ride it out
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CU Medallion [59974]
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Re: These past few weeks have been our busiest
May 11, 2020, 8:25 PM
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I cannot wait to step foot into a Hyatt (sorry if not your gig) and step onto a Delta flight. I would do it tomorrow if I could.
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Legend [17220]
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Good news! My guess all durable goods will also have pent up
May 11, 2020, 8:45 PM
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demand from folks employed through pandemic. Getting retail, durable goods and even some travel sectors going is fuel for additional economic activity. If restaurant and even travel & entertainment employment can quickly recover to 65% to 80%, then the recession can be manageable until vaccine or effective therapeutics.
Just hope (and pray) for a small, controlled second wave that doesn’t jolt consumer confidence.
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CU Medallion [59974]
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20-30% down is a great number for most sectors
May 11, 2020, 8:48 PM
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you nailed in on the head.
Restaurants are tough as they have low and limited capacity, so only so much you can do, but outside of that sector, 20% down this year would be a huge win.
And just think, that is with the country down and out for 12-16 weeks. I mean some folks in Washington have been locked since February 1. Insane
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All-In [29076]
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Costco and the grocery store are the only two places
May 12, 2020, 9:03 AM
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we're going right now and we probably won't be going anywhere else at least till after the baby is born. Everything else I need can be purchased online. There is no way I'm taking any unnecessary risks that could prevent me from being at our child's birth though.
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Oculus Spirit [75671]
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I like to see that folks are spending money.
May 12, 2020, 11:52 AM
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I will likely join that part as soon as I'm confident that my job remains steady and sharkgirl goes back.
Right now things have become real, real slow.
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