Oh When the Saints...
Posted by Don Capman
Whether you’re a die-hard Colts fan or died-in-the-wool fan for the underdog Saints, Super Bowl 2010 had a magical feeling about it. After suffering years of post-Katrina devastation, neglect and desertion, the “Crescent City” and its beloved Saints came back in a big and emotional way.
From looking at the celebrating crowds on Bourbon Street after the win, it was obvious that Mardi Gras had started a week early.
For anyone who’s ever been to New Orleans, there is a distinct and uplifting persona about the city. From the “Old South” refinement of the Garden District to the never-ending party in the French Quarter, you experience a feeling for the soul of the city that is like no other. When Katrina struck, it seemed like the soul of the city itself had been ripped away from its body and would never return. Well, guess what? The soul of the Big Easy is back and in a Big Way! Granted, there are still many years of work to be done but slow and steady progress is being made every day thanks to the determined residents and organizations like Habitat for Humanity.
While not possessing the violence and death of Katrina, the Great Recession has devastated our economy and severely damaged many of our institutions, businesses, as well as our personal lives. Unlike Katrina, the Great Recession was brought on by ourselves and could have been prevented. None the less, it was and still is a very painful experience where it is sometimes difficult to see the light at the end of the tunnel. Unfortunately, retail was one of the hardest hit sectors of the economy and will, in all likelihood, take the longest to recover. Like Katrina, the Great Recession does give us pause to take a look at the way we do things. Much of the new construction in New Orleans is being built to withstand such a cataclysmic disaster in the future. We must do the same for our economy and our businesses.
Today’s post-recession retailers need to take a fresh look at how they do business. Inventories need to be scrutinized carefully. Key performance indicators (retail KPI) such as turn and sell through require constant attention. Customer loyalty and customer service and retention should be a part of the retailers’ everyday vocabulary.
Like New Orleans, retail will come back. Also, like New Orleans, it has a long way to go but progress is positive and the soul of this country will rise to the occasion.
LAISSEZ LES BONS TEMPS ROULEZ!
