The last couple of years have provided their fair share of stress for retail operators and small business owners alike. We’ve had to deal with the many effects of Covid. Working from home has become the norm in many cases. Supply chain interruptions continue to wreak havoc. Nationwide staffing shortages have popped up unlike anything I’ve seen in my lifetime. We have seen inflation hit 40 year highs with no signs of slowing down. Now the Fed is working to increase interest rates at a near record pace to slow down the economy. Consumers are starting to see their equity decline in their homes. 401k accounts in many cases have decreased nearly 35%. In my lifetime I have only seen these type of head winds one other time.
Tough Times for Retail Operators
The second time was back during the “Great Recession” of 2007-2009. I will leave it to the politicians to argue who is at fault for the current recession. However, our economy has started to slow and is about to slow further. Just like 2007-2009 the economy will adapt. Unlike 2007-2009 today the ability to order goods on the internet is easier. However, traditional brick and mortar stores are going to be in for a rough ride. Retail operators will be focusing on downsizing their store counts as well as their store sizes. They will continue to adjust their focus to more digital sales. This will continue to put stress on the economy as more and more retail related workers will start to be unemployed.
SAM Will Help You Adapt!
Why would I mention this in a retail blog? Simple. When the economy adapts to the new normal, SAM Auctions will be there to help retail operators as they make these adjustments. SAM Auctions has been in business for over 30 years. Our leadership team has a combined over 100 years of experience in the auction and liquidation fields. As the nation’s premier supermarket auction house, we are in a unique position to help retailers close their underperforming locations and sell other under performing assets. SAM Auctions has teams of retail fixture experts that can help retailers like you get the best return on investment.
Fixtures Hold Their Value
I have been asked, “won’t used store fixtures lose their value?”. Just like in 2007-2009, I predict that the value of used store fixtures will hold steady. The values may even increase. When the economy starts to contract, new entrepreneurs will look to open businesses to fill the voids created when other retailers close their business. Many of these new business owners will be looking to open their new business on a budget. SAM Auctions is uniquely positioned to help connect buyers and sellers.
Impressive Marketing Initiatives
SAM Auctions works with many of the nations largest grocery and supermarket companies. Our current database of active buyers and bidders is one of the largest active bidder lists in the nation. While most auction houses market to find new companies to supply their auctions, we are one of the few that actually makes investments in marketing to find new buyers. You can rest assured that your store fixtures and supermarket equipment will sell for the best possible dollar. As a buyer you also have the assurance that the retailers we work with will have a steady flow of quality equipment for your ever changing needs.
SAM – Doing Business the Old Fashioned Way
Clearly the world of retail is changing daily. But one thing will remain the same. SAM Auctions will continue to do business the old fashioned way. We will answer our phones, return emails, and most importantly continue providing good customer service. We will be there when you need us!
Quote of the week:
“Always do your very best. Even when no one else is looking, you always are. Don’t disappoint yourself.” – Colin Powell
Thanks for reading,
Scott and the amazing team at SAM Auctions