No great observation here, but I'm noticing way more of the amenity type businesses opening all of a sudden. I mean, we've been talking about them for a couple of years, and they've been opening all along, but suddenly there seems to be a jump in the number, and an inflation of the high concept that is very noticeable. Interesting timing, and I think the result of the surge of newcomers since 2004.
For instance, the number of kid's clothing stores, both new and used, has jumped by 5 or 6 or 8 or something. Seems like every time I open the paper, I see a new one. Number of indy bookstores in Bend and Redmond? Jumped from 1 to 5. And no one just opens a bookstore anymore, or a clothing store. No, there has to be a coffee shop or a deli attached.
Back when I was reading Inc. Magazine and Entreprenuer, I'd notice that stores would become fads. A certain concept or type of store would be trumpeted. And I read these articles and think, that's crazy. A bunch would open, and a few years later some of them would've adapted into something real and rest would be gone.
High concept is all well and good. But we live in a nuts and bolts, bread and butter, meat and potato world. The other stuff is garnishing. You aren't going to make your money on the extra's. Some of it branding, I suppose, a way to make your store stand out. As long as the owner understands that.
For instance, if you are a jewelry store, I'm sure you love to have really interesting, spectacular bling. But I'm betting you still make your money on engagement and wedding rings, etc.
I could be wrong about this. I'm not sure I understand the frizzy businesses that I'm seeing open. I'm very thankful for both the walk-in traffic who is attracted to the high concept stuff I carry, and the regulars who buy my standard stuff week after week. I need both of them. I doubt I could survive without both of them.
But I'm very careful not to limit my selection based on some high concept notion.
I suppose some of these high concept amenity businesses will find out after opening what their bread and butter product will be, if they last long enough, and come down off their clouds. But to depend on the snazzy, look at me, product means they are depending on making their money in the vacation and holiday months even more than usual, and god help them if those tourists stop coming for any reason.
I suppose there is also a possibility that the amenity vagrants will flock downtown and buy a bunch of unnecessary but cute stuff. But mostly, I just seem them spending the same kind of money as everyone else, or just standing there going, "how quaint."
Just once I'd like to see a batch of customers come in and say, "I'm rich and money is no object and I'll take two of that incredibly high price thing over there." (Of course, I understand they aren't going to announce that they're rich, but I don't see behavior that would signal they're rich, either....the I'll take this and this and this....")
Never happens.
But I think in the minds of some of these new amenity businesses, they think it is going to happen everyday.
Good luck with that.
For instance, the number of kid's clothing stores, both new and used, has jumped by 5 or 6 or 8 or something. Seems like every time I open the paper, I see a new one. Number of indy bookstores in Bend and Redmond? Jumped from 1 to 5. And no one just opens a bookstore anymore, or a clothing store. No, there has to be a coffee shop or a deli attached.
Back when I was reading Inc. Magazine and Entreprenuer, I'd notice that stores would become fads. A certain concept or type of store would be trumpeted. And I read these articles and think, that's crazy. A bunch would open, and a few years later some of them would've adapted into something real and rest would be gone.
High concept is all well and good. But we live in a nuts and bolts, bread and butter, meat and potato world. The other stuff is garnishing. You aren't going to make your money on the extra's. Some of it branding, I suppose, a way to make your store stand out. As long as the owner understands that.
For instance, if you are a jewelry store, I'm sure you love to have really interesting, spectacular bling. But I'm betting you still make your money on engagement and wedding rings, etc.
I could be wrong about this. I'm not sure I understand the frizzy businesses that I'm seeing open. I'm very thankful for both the walk-in traffic who is attracted to the high concept stuff I carry, and the regulars who buy my standard stuff week after week. I need both of them. I doubt I could survive without both of them.
But I'm very careful not to limit my selection based on some high concept notion.
I suppose some of these high concept amenity businesses will find out after opening what their bread and butter product will be, if they last long enough, and come down off their clouds. But to depend on the snazzy, look at me, product means they are depending on making their money in the vacation and holiday months even more than usual, and god help them if those tourists stop coming for any reason.
I suppose there is also a possibility that the amenity vagrants will flock downtown and buy a bunch of unnecessary but cute stuff. But mostly, I just seem them spending the same kind of money as everyone else, or just standing there going, "how quaint."
Just once I'd like to see a batch of customers come in and say, "I'm rich and money is no object and I'll take two of that incredibly high price thing over there." (Of course, I understand they aren't going to announce that they're rich, but I don't see behavior that would signal they're rich, either....the I'll take this and this and this....")
Never happens.
But I think in the minds of some of these new amenity businesses, they think it is going to happen everyday.
Good luck with that.