Had an interesting conversation last night about a peculiarity of retail business in general. Given that we live in a technologically advanced world where change and innovation is the name of the game, we seem to have a number of traditions that fly in the face of capitalism and common sense. One good example is the nature of business hours for retail stores.
Many years ago, it wasn’t uncommon for families to have one income earner and one spouse stay at home. This made it worthwhile to open most stores during the day since there would be lots of consumers able to come in an make purchases. Today, we have many double income families and the traffic to retail stores is quite low between 9 to 5, Monday to Friday. Yet many businesses close shortly after the “office” day is done. Does this make much sense today? If you were a business owner and the traffic to your store was a fraction of what it is after 5pm and on weekdays, wouldn’t it make more sense to structure your hours that you are open for business to be around the same time that everyone else ISN’T at work?
Any thoughts or ideas on this???
There were 119 comments left for the contest last week, and needless to say I’ll have tonnes of material to write about as the suggestions were fantastic – thank you to everyone who participated!
Unfortunately, there can only be 7 winners and here they are:
Findependence Day Winners
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