February 2010 - trade predictions, what happened?

[Lee]

This time last year we ran a poll asking for your predictions for 2009-10

 

At that time

 

65% thought they'd be up on the previous 12 months

13% thought turn over would be the same &

23% anticipated being down on the previous 12 months

 

So how close where our predictions?

[Michael]

23.2% down on previous year for me

[Guest lee.]

Down 20% on last year , which was down 15% on the previous year ,but overheads are rising all the time , rent , materials etc , and more negative price response from customers ,so many cheap new shoes out there now ,especially for Ladies.

We have held our prices on repairs and keys for the past 4 yrs ,reluctant to put them up for fear of losing what little trade we have , sundry sales have dropped off since the last round of increases from suppliers , polish in particular , supermarkets are selling at what we buy for .

The publics shopping habits are changing , more are shopping online for groceries and getting them delivered , more are using supermarkets "out of hours" (many run 24 hrs now), less people out in the shopping areas than there used to be , problem is they will never come back ,and we must accept that fact .

We have done more advertising than we ever used to , so people know we are still there , local papers ,leaflet drops to local offices etc , not a lot of response than we were aware of .

We keep our regulars , but new faces seem to be thin on the ground , our shop has been in the same place for 25 yrs and we are well known in the local area , thinking about moving closer to the entrance to the recently opened Asda a 5 minute walk from us , shoppers seem to be plentifull there , but do not seem willing to explore what is close by , preliminary enquiries with Landlord reveal that they are looking at double the rent and rates we pay already , not sure if we want to make that comitment the way trade is declining .

[John P]

I am one of the 13%,trade remained much the same.

[Lee]

Not a clear trend on this poll as yet, but it does seam that some capitalised on strengths to show improvements over the previous 12 months, whilst some clearly struggled with the recession.

 

Could it be geographical perhaps?

 

I personally noted modest improvements in certain areas & falls in others, I also spent many months making calls & researching to reduce every overhead I could & these savings are helping tremendously, with the full effects beginning to be felt. So with little change in turnover but vast savings on costs I feel I will weather the storm in a strong position.

 

Lee

[Michael]

although turnover was 23.2% down I still managed to keep the 74% profit margin which is a little light at the end of the tunnel

[Auto Key Wizard]

6% up on the year which amounts to just over 5K extra

[Craig Gardner]

6% up on the year which amounts to just over 5K extra

 

the shop i am based in was up just over 20% on last year mainly down to car key side getting more and more popular. my business was well up on turnover due to another shop i opened 11 months ago.

 

craig