I spent two days talking to many of the 20 or so retailers at the Board Retailers Association Summit in Puerto Rico last week. Here are some themes that emerged.
Tough times: Many are definitely feeling the economic slowdown and adjusting their businesses accordingly by ordering less inventory and watching expenses closely.
Better sales reps: Many store owners yearn for better trained sales reps who understand their businesses and respect their time.
Increased competition: Stores are getting hit from all sides, including from vertical retailer such as American Eagle and Hollister, national chains like PacSun, discounters like TJ Maxx, ecommerce businesses such as Zappos and manufacturers selling direct online and opening stores.
Praise for Quiksilver: I heard lots of nice words about Quiksilver. It may be a $2 billion company, but the core stores are feeling lots of love from the industry’s leading brand. Stores owners like that Quiksilver takes cares of its employees and promotes internally, which leads to employees at higher levels understanding the business from the ground up. They feel like they can call Quiksilver and get help if they need it, including getting in-store marketing materials or help resolving a problem. And, Quiksilver merchandise sells.
Tom Holbrook, left, executive vice president, strategic brand development at Quiksilver, received high marks. Tom acts as a bridge between retailers and Quiksilver. Many retailers said they like that Tom actually visits their stores and listens to them.
In fact, in Puerto Rico, Tom was ducking in and out of the conference to visit stores in the area. When I went to check out a nearby Bora Bora store, I found out Tom had been there already. And, he’s come to Puerto Rico a lot over the years, said Luis Santori, Bora Bora vice president of merchandising and marketing.
“He’s probably been to Puerto Rico 10 times,” Luis said. Quiksilver is the No. 1 brand in Puerto Rico, Luis said.
“The brands that pay a lot of attention to the market get a lot in the market,” he said.
