Six months ago an Asda survey of 2,500 shoppers showed that 40% were going to the hairdressers less fequently and sales of do-it-yourself hair dye had jumped by a third. "Frivolous is out, frugal is cool", said Asda boss Andy Bond. For many shoppers the best way to be thrifty is to stay at home. However, a few bad hair days and saving money by home dying will go out of fashion. Cheap fun treats may be frivolous but many shoppers will want these to relieve the boredom of thrift. This is an opportunity for local stores.
True in part to my New Year resolution, I held a business meeting in an independent coffee shop today just next door to a Starbucks. The cafe was presented well and four staff were busy preparing for the lunchtime rush, at 11am. As my guests were late, I had a half hour overview of footfall on the street outside and in the restaurant. Six customers. Barely enough to form the queue in Starbucks or Pret-a-Manger just down the road. Plus one Italian girl who dropped off her CV. Some people stopped to look at the posters in the window and moved on. The owners seemed quite happy. When I left just after 1215, they were doing brisk trade. However, I have the impression that the business is not working hard enough. It could easily have managed 120 customers between 11 and 12, instead of 12. This is lost profit as the fixed overheads and staff costs are already in place. The owners are clearly busy - perhaps too busy to take time to look at the potential that their cafe has. What shou...
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