Business Outlook

WHAT'S IN STORE? from page 13

Ron Elkus talks about how he, too,
has been working smarter at his opera-
tion, the Shirt Box in Farmington Hills.
"Like any business, not just retail, you
have to [market] yourself and advertise,"
even more so during tougher times he
says. Last fall, Elkus started running
more promotions, and he stays in touch
with customers more frequently,

encouraging them to stop in and see
what's new
While he believes consumers, in gen-
eral, remain cautious, he's seen a bit of
an upturn recently. "People are ready for
something new, especially if they held
back for a while," he says. And although
his customers weren't buying as much
travel and warm-weather clothing earlier

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this year, he's been pleased with the
interest in more professional attire as
workplace dress codes around town,
and across the country for that matter,
begin a slight shift to back-to-business
dressing.

Being Different

lease driven, he was somewhat buffered
from the post-September economic
maelstrom. When leases came due, cus-
tomers were automatically back in the
marketplace.
But, he also gives a nod to General
Motors' low finance incentive program
last fall for sparking consumer interest.
"It was successfully implemented, and
clearly was the driving force to business
getting back to where it had been," says
Glassman, who sells Oldsmobile, Saab,
Hyundai and Kia brands.
Glassman is back into spring selling
"in a big way. There are definitely
enough factors out there to motivate the
public and give them a reason to buy or
lease. "

At Scott Gregory, a woman's specialty
store in Bloomfield Township, owners
Wendy Schwartz and husband Mark are
adjusting what they're buying. In turn,
they've been pleased with sales so far
this season. "We're getting busier with
people shopping for prom and spring
affairs," Wendy Schwartz says. "People
still want to buy nice dresses for special
occasions."
Plus, Schwartz says, the spring fash-
Economic Trends
ions are being well-received thanks in
One retail motivator would be if oil and
part to fresh styles that are a departure
gas prices top out this spring, according
from seasons past with lots of white,
to David Littman, senior vice president
ruffles and a strong western influence.
and chief economist at Comerica Bank.
"People need a relief when the news in
He says if those prices re-emerge at low
so heavy, and fashion is fun and flirty"
levels seen last year, it will boost con-
When ordering for spring, the
sumer confidence and enhance purchas-
Schwartzes were cautious, focusing
ing power.
more on trend and fashion items. "We
Tempered optimism from retailers
bought narrower, jumping on trends,
notwithstanding, Littman calls attention
and that's what's selling," she says,
to slow employment and income
adding that the store prefers to stock
growth, as well as continued corporate
brands that don't sell to the department
belt-tightening locally for the remainder
stores as a way to further differentiate
of the year. He predicts marginal profits
itself.
and only a 2-4 percent increase: for
Mike Morganroth of Sherwood
•
Studios and Ari Freed of Freed's in
Windsor credit savvy buying strate-
gies with boosting volume at their
respective stores in recent months.
When the retail climate cools,
Freed's buying trips are driven by
how signif Int a savings can be
passed along to the consumer. This
happened last November when a
vendor turned his merchandise over
to a Montreal-based liquidator. "I
bought 1,500 men's suits, sport coats
and slacks over the course of a few
Wendy Schwartz creates a display
weeks," Freed says. The collection
at
Scott Gregory.
was heavily promoted, and "we sold
out of the entire grouping."
retail. He's more optimistic that mer-
Morganroth, too, says its a buyer's
chants will have a better chance at sub-
market. At his furniture and home
stantial improvements in 2003.
decor showroom in West Bloomfield,
Littman says the smaller operator is
the savings now are the most generous
going to have to "really work for it."
he's offered in his 40 years of business.
There's no question then that being
Apparently, his strategy is paying off
nimble behind the scenes is important
first quarter sales were up 25 percent
to the bottom line. But other factors,
over last year.
like what's happening on the sales floor,
George Glassman, vice president of
or even where that sales floor is located,
Glassman Automotive Group in
is critical.
Southfield, says because his business is