HOW WORRIED ARE RETAILERS ABOUT A SALES SLOWDOWN? PART TWO

Anxiety is a shared experience these days. According to MR’s survey of independent retailers, most ‘worry scores’ were in the 4-to-7 range (10=most worried), based on tenuous recent sales (for some) and the precarious state of the world (for all). Here, more insights on how retailers are dealing with the angst.

Rush Wilson, Rush Wilson Ltd., Greenville, SC
We live in interesting times! Our business is down a little, around 5 percent, but 2024 was the best year in our history. I’ve been out for three months with hip and knee replacements but Jay feels that traffic is still good. Customers are upbeat; they’re not talking about tariffs.

We’re positive but cautious. We were very purposeful in holding back 40 – 50 percent of our spring and fall open-to-buy. That will put us in a better position to pivot and react to higher prices if demand lowers. If tariffs go into effect, we will raise our prices accordingly. We’ll try to stay nimble and aware of what’s happening in the world. We continue to have trunk shows every season with around 17 vendors during a two-month period. It’s a promotion that always draws traffic. We’re always on the phone calling and texting customers about events, following up, and connecting with them. We’re always proactive.

Scott Shapiro, Syd Jerome, Chicago, IL
We’re not experiencing a slowdown in sales. Since we slowed down 80 percent in 2020, we’re still working our way back up!

For some reason, I’m not worried about the future, knowing that in any kind of recession or boom, some groups fare well and others poorly. So with customers from the medical, legal, financial and tech communities, at least one of these segments should prosper at any given time.

Our mission involves constantly evolving our mix and distancing it from the more commercial products out there. We’re focused on offering value, based on both the fabric and the make. If a customer is at the top tier of a particular brand, we’ll usually bump him up to the bottom tier of an elevated brand for a superior make. We serve as an incubator: it’s our role to teach consumers about products and value.

As for raising prices, I believe tariffs will be short-term, and we’ll work with our vendor partners to address this. Right now, vendors have been shipping in advance, and I’ve got plenty of inventory.

Perhaps the bright spot in recent business has been the proliferation of weight-loss drugs. We have many customers who have lost 20-120 pounds and they need new clothes. Fortunately, we have 8 tailors, but when a guy drops from a 57-inch waist to a 45, alterations are not enough…

Al Leinen, Halls, Kansas City, MO
We’re not seeing a slowdown in our men’s business. Nor are we worried about an impending drop in sales, although business next month could be entirely different than it is now. We’re focused on made-to-measure events and other in-store gatherings. And yes, we will likely raise prices when tariffs are imposed: our mission is to sell high-end goods and maintain healthy margins.

Nick Hilton, Hiltons Princeton, Princeton, NJ
My normal worry factor is a solid 4; Jennifer is almost always a solid 7. But your question about worry makes me worry. I believe one-day-at-a-time is a better strategy than negative projections.

For us, March was ahead 20 percent, but January and February were down. If we have to have down months, January and February are the months to have them. Year-to-date we’re behind 3 percent.

Moving forward, we’re offering exciting new merchandise from exciting new vendors, and we’re actually, finally, making regular use of social media (especially Reels). Yes, we will raise prices when tariffs are imposed. Our bright spots: tuxedos and formal wear are on fire! Overall, our March suit business was double that of 2024!

Men’s and women’s retailer, Cleveland, OH
Even with uncertainty growing and consumer confidence ebbing, our current sales through March continue to grow, as they have almost every month since 2021. Although I’m always worried about business, especially now, our recent sales figures have kept me relatively sane, so I put my worry meter at about a 5.

To keep growing sales in this precarious climate, I’m continuing best practices that revolve around giving customers the best product and the best shopping experience to be found anywhere in the world.

As for dealing with tariffs and probable price increases, we will consider all strategies that improve margin while staying competitive.

Men’s clothing has always been driven by special events, while our women’s business is driven by our manager and team who continually introduce fresh product that resonates with our ladies. (I prefer to remain anonymous so department stores don’t figure out how much their mediocre service and uninformed sellers have helped our business.)

Menswear retailer, Dallas, TX
We’re just finishing against a good month vs March of 2024. We met and beat it by 2 percent which was part of my plan for the season. We’re ahead for our fiscal year by 17 percent (since October 1st). But we’re clearly missing many of our regular clients, who are on the sidelines waiting. New traffic is driving our business.

How worried am I about business? I am a worrier by nature, internally. On the outside, to my family and team, I’m optimistic and deliver only positive messages. We cannot control what happens on a federal level, but we can make great waves in our community. I’m right now a 7 on the worry scale.

To jumpstart sales, we’re running more events and trunk shows. We’re doubling down on social media, email marketing, and finding traffic in new places. We’re continuing to bring in fresh brands, so customers see something new each season.

As for price increases, we had planned an increase in our Canadian goods, and a small one for EU goods. We never implemented those increases. We will wait, watch, and then react accordingly. Especially now that April is here, I expect my “7” worry score to drop.

Bright spots now: With traffic down a bit, we now have more time to spend with individual clients to build out wardrobes for them. And most of our vendors have been on time with spring shipments.

Lindsay Morton Gaiser, Andrisen Morton, Denver, CO
We’ve had a decent first quarter. March sales are 6 percent ahead of last year. My level of worry is about a 4 right now.

We have lots of in-store events planned including a golf event that will be held over Masters weekend. We’re ready to pull the trigger on early promoting if we need to but haven’t needed to just yet.

Considering Andrisen Morton buys nearly 90 percent of our products from Italy, we feel fortunate that for now, we aren’t seeing tariffs notably impact our pricing structure. When there is a situation forcing price adjustments, we are very transparent with our customers, keeping them as informed as possible.

Selling best these days: basic suits, overshirts, luxury sweaters and 5-pockets.

Gary and Teresa Drinkwater, Drinkwaters Cambridge, Cambridge, MA
Uncertainty weighs heavily on all of us—not just as business owners but as individuals who care deeply about the future of our country, our democracy and our economy. The only sure thing is that we’ll be navigating challenges for the foreseeable future. Luckily, we had a strong beginning of the year but since mid-March, we’ve noticed a slowdown in sales.

Right now, I’d rate our worry level at about a 7. We remain hopeful, thanks to our loyal customers and the product offerings we bring to the table. However, it can’t be ignored that our business—and the men’s clothing sector as a whole—relies heavily on a robust economy and a strong job market. Without those, the market is likely to tighten, and many smaller businesses could face very uncertain times.

In the near term, we’ll focus on strengthening our online presence and deepening customer engagement. We believe in the resilience of our loyal community and the progressive spirit of Massachusetts, which has helped us weather challenges—from the recession to the COVID era. We’re confident that together, we can navigate these uncertain times once again.

We’re actively collaborating with our vendors to share the burden of tariffs, especially during this initial phase. Our top priority is to keep our prices competitive without sacrificing quality. That means any changes to our vendor lineup will be made thoughtfully and with the long-term well-being of our business—and our customers—in mind.

Despite challenges, we’ve noticed increased customer interest in several fashion segments: sustainable fabrics, bespoke and quality tailoring, customization, and timeless staples. And even amid economic uncertainty, local support remains strong. Many consumers value the personal connection and authenticity that local businesses provide, helping to sustain niche segments in the market. These bright spots give us a sense of hope and direction, reminding us that even in tough times, there are opportunities to innovate and cater to evolving consumer values. Navigating these uncertainties is about staying agile and responsive, which we’re committed to at Drinkwaters.

Ken Shaia, Shaia’s, Homewood, AL
We’ve not seen any downturn in sales or attitudes; our business remains positive. Spring merchandise has been delivered on time and is selling well. Sales are pretty much normal at the moment, thanks to nice weather (60s and 70s) that has motivated people to get out and about, to enjoy shopping all the new fresh fashion that’s come in for early vacations. If tariffs are imposed, we’ll split the price increase 50-50 with our vendor partners. Fortunately, at this point, things are looking good.

Men’s and Women’s Retailer, Louisville, KY
Sales are good: flat to up a bit. I’m always worried about business, so this is no change for me…my worry level is always at a 5 until it escalates to a 10! (Like during Covid and in 2008…)

Going forward, we’re looking at more events, more social gatherings, more Sip&Shops…

We’ll raise prices as necessary and explain it to our customers, but only a small percentage of our vendors will be affected.

Overall, basic suits, sportscoats and women’s fashion are my recent bright spots.

Andy Weil, Pockets, Dallas, TX
Our first quarter will end up with showing double digit gains. We’ve been very fortunate.

But I’m always worried about business. I feel we start at 0 every day and need to sell like we’re always behind. This is why I’m so focused on expenses and cash flow. (It was not long ago that we all learned the importance of expense control…)

An equally important focus for us is building relationships. We encourage our salespeople to reach out and connect with customers on a personal level. As for tariffs, if our prices go up at the wholesale level, we’ll reluctantly raise retails. But so far this year, both made-to-measure and ready-to-wear sales have been pretty solid.