CLOSE UP ON ROSENBLUM'S | BUSINESS IN CHALLENGING TIMES
There are a few merchants I can always count on to be totally candid about business. Bob Rosenblum, of his namesake stores in Jacksonville, Florida, is a guy who always tells it like it is. Here, I catch up with him on current business and dealing with some of the challenges.
What changes are you making in your business in light of changes in the world?No changes at this time: our changes started years ago when every piece of bad news affected my business. From the Barney Frank housing mortgage crisis to the stock market crashes, to the wars, to Covid. Over the years I started to hold back on my seasonal purchases, develop a basics program (similarly to the grocery stores never out of eggs, milk or cheese) and put more effort into custom clothing.
What do you see as your key challenges and opportunities going forward?Traffic is and will continue to be the challenge; consumers have gotten lazy and spoiled with all the Amazon and Door Dash delivery services. Even though we’re all on our devices, I’m not sure events and promotions will move the needle. I’m betting on personal contacts and offering the best in-store experience ever.
What’s selling and what’s not this spring?Clothing and Custom are selling; sportswear is too easily purchased online. I’ve noticed over the last several years that my customers’ wives aren’t frequenting the stores as much. I can’t blame them when they can order anything at 20% off online from any vendor and see the complete collection versus a curated scaled-down version.
In what ways are you tweaking your merchandise mix going forward?We’re moving off our good, better, best model, and picking the best assortment from vendors who can back up inventory, who care about developing a healthy relationship with us.
What have been your most successful events this spring? Why were these successful?Footwear has been a big success, and I can only think it’s from personal contacts and vendor promotions to our customers
Realistically: where can you cut back on expenses? Where can’t you?We constantly review our expenses; anything that affects the customer is off limits. We look at keeping our margins high and cash in the bank to pay vendors.
What keeps you up at night lately?How will our 4th generaton compete and navigate the future.
