So, is your business included in our 'Rockstar' economy?

[scrivy]

http://www.stuff.co.nz/business/mone...-interest-rate

Gotta make me wonder, how many businesses are in our so called 'Rockstar' economy....??
I have about 450 suppliers for my two businesses, and about 95 percent of them (if not higher) are going backwards... I am finding it harder to purchase from them all, as they are reducing the amount of stock they hold, and they are also reducing lines due to not having the money to acquire more stock.
They say sales have dropped, and demand is not there.
It's evident that we are not in 'growth' mode in provincial towns, as there are increasingly more empty shops around. It is not getting better, infact the opposite.
So now we have the OCR going up again, and it will likely do so again and again in the near future... How much disposable money will this take out of the local economies...??
I see things getting even more stifled....

I did a survey in my town of retailers, and 43% of them were down last year to the tune of between 20-50% !!!
Please reply with your business results - not figures, just up or down....

[scott411]

http://www.stuff.co.nz/business/mone...-interest-rate

Gotta make me wonder, how many businesses are in our so called 'Rockstar' economy....??
I have about 450 suppliers for my two businesses, and about 95 percent of them (if not higher) are going backwards... I am finding it harder to purchase from them all, as they are reducing the amount of stock they hold, and they are also reducing lines due to not having the money to acquire more stock.
They say sales have dropped, and demand is not there.
It's evident that we are not in 'growth' mode in provincial towns, as there are increasingly more empty shops around. It is not getting better, infact the opposite.
So now we have the OCR going up again, and it will likely do so again and again in the near future... How much disposable money will this take out of the local economies...??
I see things getting even more stifled....

I did a survey in my town of retailers, and 43% of them were down last year to the tune of between 20-50% !!!
Please reply with your business results - not figures, just up or down....

we bottomed out in 2010, and have been up in 11,12 and 13, still not anywhere near the highs but are looking better,

[sidecar bob]

we bottomed out in 2010, and have been up in 11,12 and 13, still not anywhere near the highs but are looking better,

Same. seem to be doing similar figures to pre recession but without all the pressure & stress that was there before.
Certainly got nothing to complain about at this stage.
Fortunately my trade can not be purchased on the internet.

[slofox]

My business choked to death in 2012.

[scott411]

Same. seem to be doing similar figures to pre recession but without all the pressure & stress that was there before.
Certainly got nothing to complain about at this stage.
Fortunately my trade can not be purchased on the internet.

yes, the world is changing, the stores have to adapt and offer a service, rather than just be a outlet,

[scrivy]

yes, the world is changing, the stores have to adapt and offer a service, rather than just be a outlet,

I understand what you're saying, but unfortunately, it's just not the case now - price is king, and there is no loyalty anymore.
I know, because I have different pricing for some items on my website than in-store. Guess which ones sell the most....

As for service, we are constantly advising/helping customers (for sometimes up to 30-45 mins) about products, and then they say thanks... stand beside you, use their smart phones and look for the cheapest price on line. Cheeky cunts.
There is always going to be someone selling your products cheaper. (Not all of your products at one site mind you).
So adaption is almost irrelevant in todays 'I want it as cheap as fuck' world.

The landlords need to 'Adapt' too. There are simply too many stores empty now.

[Edbear]

Certain businesses are booming now. Plumbing is crazy busy for my Son-in-law. He's struggling to find staff. My business over all was up 11% over the last year, with my plumbing business up 53% over the past 6mths.

I have two businesses in two very different markets and both are growing quickly. I am also finding it a challenge to keep up with demand and buy in enough stock, having to pay for it on order.

Retail shops are finding it hard going now, but the general economy is inching ahead. Those who can adapt or restructure will survive.

[scrivy]

Fortunately my trade can not be purchased on the internet.

Only problem with that thought though, is that a threat from the internet might not affect your business directly, as opposed to an indirect threat...

By that I mean, if I am attacked, and go belly up, then I will not use your services....
That's what alot of people are now saying is happening - their customers have declined...

[scott411]

I understand what you're saying, but unfortunately, it's just not the case now - price is king, and there is no loyalty anymore.
I know, because I have different pricing for some items on my website than in-store. Guess which ones sell the most....

As for service, we are constantly advising/helping customers (for sometimes up to 30-45 mins) about products, and then they say thanks... stand beside you, use their smart phones and look for the cheapest price on line. Cheeky cunts.
There is always going to be someone selling your products cheaper. (Not all of your products at one site mind you).
So adaption is almost irrelevant in todays 'I want it as cheap as fuck' world.

The landlords need to 'Adapt' too. There are simply too many stores empty now.

understand what you are saying, and when i was in the UK 3 years ago it was worse than here, main street's are getting emptier now, and the internet has made shopping for the lowest price the norm, I dont see that part improving either,

[Drew]

I am up on the previous three years. Just walked away from the guy I've been contracting to though, so that may change.

[Edbear]

I understand what you're saying, but unfortunately, it's just not the case now - price is king, and there is no loyalty anymore.
I know, because I have different pricing for some items on my website than in-store. Guess which ones sell the most....

As for service, we are constantly advising/helping customers (for sometimes up to 30-45 mins) about products, and then they say thanks... stand beside you, use their smart phones and look for the cheapest price on line. Cheeky cunts.
There is always going to be someone selling your products cheaper. (Not all of your products at one site mind you).
So adaption is almost irrelevant in todays 'I want it as cheap as fuck' world.

The landlords need to 'Adapt' too. There are simply too many stores empty now.

It's a buyer's market and people are getting more savvy about shopping around. I am fortunate to have two unique products with little to no competition. One is a daily consumable that's rapidly becoming the industry standard and which has no competition and the other, of course, being the batteries which are gaining popularity at a rate I and the manufacturer are stretching to keep up with. I have more than doubled my orders this year.

I have found that I need to have the equivalent of a year's turnover in Stock on hand and if that's generally true I can understand why some are struggling where they have a lot of product lines.

[Tazz]

The landlords need to 'Adapt' too. There are simply too many stores empty now.

A number of places here have been empty since we came up 4 years ago (Picton). Local port company likes to start getting a return on their investments within 3 years so you can guess what their rents are like...

[Gremlin]

Gotta make me wonder, how many businesses are in our so called 'Rockstar' economy....??
I have about 450 suppliers for my two businesses, and about 95 percent of them (if not higher) are going backwards... I am finding it harder to purchase from them all, as they are reducing the amount of stock they hold, and they are also reducing lines due to not having the money to acquire more stock.
They say sales have dropped, and demand is not there.

Self fulfilling prophecy. If they said the economy is in the shit and you're all fucked, imagine the response. Instead, they say it's doing awesome, hoping like hell the business owners (coz they're the stupid ones of course ) believe the bullshit, invest more, hire more staff, and look, it is doing awesome. Magic.

My take is that since the GFC, it's never really taken off, businesses have continued to play it tight, struggle etc.

[imdying]

Yes, growth still in the 8% region, broke through the billion dollar mark in revenue last FY. Biggest problem? Finding staff. New Zealanders specifically; the last 3 hires have been some nice Indians. Quite happy to take fresh graduates (2 of the last three have been), but finding ones worth putting effort into isn't easy.

[Ocean1]

Yes, growth still in the 8% region, broke through the billion dollar mark in revenue last FY. Biggest problem? Finding staff. New Zealanders specifically; the last 3 hires have been some nice Indians. Quite happy to take fresh graduates (2 of the last three have been), but finding ones worth putting effort into isn't easy.

Same, turnover for the last 3 yrs is +20%, +25% and tax year just gone +35%. That on the back of similar growth for my clients.

Most of my suppliers are now seeing rapid growth, but just this last 6 months,

From here on growth is limited only by lack of skilled staff.

Edit: in spite of some serious price gouging by some suppliers. Cunts.