What Type of Retailer Are You In a Crisis? | Retail Today With Bob Phibbs, The Retail Doctor - Flash Briefing

Yesterday I told you about a sewing machine retailer with change their Facebook banner and end up getting a sale and today I thought I wanted to just unpack for you that they're really kind of three types of retailers when we are in a situation like we are today. The first one is "There's nothing I could do. I just have to hunker down and endure it," and some people, that's where they're at. Other people are saying, "It doesn't matter. I can do anything. This could be a challenge and I could do it," and the third one is that people understand that "I don't know exactly what I'm supposed to do," and for you, if that's you, that's why I'm talking to you today.

Sometimes people are saying this is a lot like 2008. Well, it's not really like 2008 because in 2008 the plumbing was 'mucked up' and that's not the case here. We think demand is going to rise. In fact, I was just talking to someone with a reporter in China and they say things are getting back to normal and people are going out to Starbucks. I'm hearing here in the states I understand that home centers seem to be filling up and doing well, but ultimately, it's the attitude that we reach when we come to this place that's going to determine how you're going to get through it.

So, today, I just want you to realize when you get up and you look at your situation you might be in that middle I'm not sure what it is. I just encourage you to take one step today: "How am I going to talk to my customers in a different way while I'm going through this?" or "How am I going to talk to my staff in a different way to go through this, or "I need to talk to somebody about my finances so that I can get through it," but that little act of taking action is what brings hope and that's what I want you to do today.

Take one action to help get you from "I don't know what to do" to "It's a challenge - I can succeed."

If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to bob@retaildoc.com. Thanks for listening!