Will this be the year you expand your retail business?
With sensational headlines like “retail apocalypse” in the news lately, you might think that retail is in a major slump.
It’s not quite that simple.
While it’s true that malls are suffering and many major chain retailers like Sears, Gap, and Walgreens have closed dozens of stores in recent years, there’s more to the big retail picture.
Department stores and well-known brand names may have declined in popularity with consumers, but that doesn’t mean people aren’t shopping. Over 3,800 more stores opened than closed in 2018 among large chains, and according to a December 2018 Mastercard SpendingPulse report, holiday spending actually grew 5.1 percent, increasing to $850 billion—a six-year high. Apparel had an especially strong holiday season, with a growth rate of 7.9 percent compared to 2017—the best growth rate since 2010.
“With low unemployment and high consumer confidence, the new year is full of promise for retailers who are ready to expand,” says Rieva Lesonsky, small business expert and author, in her new ebook for Fundbox.
If you run a brick-and-mortar or e-commerce retail business, chances are you’re weighing potential growth opportunities this year.
In Lesonsky’s latest ebook for Fundbox, she breaks down how to develop your own retail growth plan, step by step. Also included are tips and insights from retail expert Georganne Bender (Co-founder of Kizer & Bender), Bob Phibbs (CEO of The Retail Doctor), Joel Libava (also known as The Franchise King), and other experts.
In this ebook, you’ll learn:
- How to identify the right growth opportunities for you,
- How to evaluate your expansion options, and
- How to prepare yourself financially for growth.
“From technological innovations to demographic upheavals, retailing is undergoing a revolution. There’s never been a more exciting time to be part of this industry,” said Lesonsky. “I wrote this guide to help retailers take advantage of today’s transformative trends. I hope it helps you make the most of the amazing opportunities—both online and off—that today’s retail landscape has to offer.”