NEW YORK (AP) – When small business homeowners want to divine what consumer spending developments will likely be months from now, their methods could be as refined as internet analytics or as primary as plain outdated intuition. At Moriarty’s Gem Art, co-proprietor Jeff Moriarty tracks searches on the jewelry firm’s web site and on Google Trends, a site that analyzes what individuals are searching for online.
Moriarty, whose firm is positioned in the Chicago suburb of Crown Point, Indiana. Social media is one other resource. Andrew Thornton and William Jones stay on prime of developments by connecting with the shoppers of their jewelry and bead retailer. Thornton, co-proprietor of Allegory Gallery in Ligonier, Pennsylvania. Apparel retailers ought to observe blogs and social media accounts of people within the style trade, including stylists who select clothes for celebrities, says Bob Phibbs, owner of The Retail Doctor, a consulting business.
Phibbs noted that Walmart commercials in the course of the telecast of last month’s Academy Awards featured well-recognized Hollywood stylists. Mack, who owns SilverFire Books, a web-based used book store, says she’s in a position to have interaction with customers on social media, and likewise see what they need. Mack, who lives in Issaquah, Washington. Owners must look creatively at gross sales or search data, irrespective of the place they get it, to try to predict what’s next, says Marshal Cohen, a senior analyst at NPD Group, a company that tracks shopper traits.
Two years ago, Cohen noticed indicators that loungewear sales … Read the rest