With retail sales inching upward in advance of the holiday shopping season and economic indicators looking better than they have in recent years, we’re wondering whether 2013 will prove to be a turnaround year for the economy. We certainly hope so and we’re taking a few minutes away from flurry to think about what has sustained us through these tough times.
Stores.org reported earlier this year that market research leader IBISWorld identified these retail sectors as the top five prospects for 2012, based on start-up costs, barriers to entry, and estimated 2012 revenue: tires; handbags, luggage, and accessories; art; furniture; and specialty foods. Not only did the decidedly unglamorous tire dealership top the list, its expected growth of 10% is almost double that of the leading trailer, handbags and related goods, at 5.5%.
While that mix seems a bit unexpected, it doesn’t surprise us here at Working Person’s Store at all. Although the recession has been tough on us, as it has been on most retailers, we have kept our focus on our mission of supplying our hardworking customers with no-nonsense, functional work wear, work footwear, and work accessories that are well-made and practical.
The concept is simple: identify a need and then put all of your effort and energy into meeting that need, day in and day out. Although we’ve been around since 1995, we at Working Person’s Store still embrace the entrepreneurial spirit with which we launched our business. That spirit motivates us every single day to look for new opportunities and fresh ways to meet the needs of our customers. While a bad business idea will likely not succeed in foul times or fair, we think a good idea backed by hard work and a ceaseless focus on the core mission stands a good chance of weathering the storm.