say they research products online before buying in person . Retailers can join customers on their shopping rchase, they’re fully informed offeatures their alternatives: percent of consumers journey — often by making it easy to and find aware product or reviews89 —or risk being left behind. ducts online before buying in person7. Retailers can join customers on their shopping It should as features no surprise that in today’s social media-savvy it easy to findcome product or reviews —or risk being left behind. society, shoppers want to hear from their peers, or at least fellow shoppers, on how a brand lives up to its promises. In 2016, three-quarters of holiday shoppers surprise that in today’s social media-savvy shoppers want to hearto from their peers,purchases from a given said they considered product reviews tosociety, be important when choosing make holiday 8 ppers, on how a brand lives up to its promises. In 2016, three-quarters of holiday shoppers online retailer . A quarter say product reviews directly on a retailer’s site were the most helpful this past holiday product tomore be important when choosing to make purchases from a given season, than comparisons or adviceholiday from friends and trusted colleagues. $100 toreviews lesseven $150 price to less $200 than $200on a retailer’s site or more arterthan say$150 product reviews directly were the most helpful this past holiday an price comparisons or advice from friends and trusted colleagues.
89%
89%
89%
HOW SHOPPERS PLAY I S S U E : FA L L 2 0 1 7 ird-party more about products, Morewebsites than halftooflearn holiday shoppers said theycompare started researching potential purchases in October or earlier. PERS PLAY nd validate the customer experience at the Whenpurchasing they While only a third of these consumers retailer. were actually at this point, many already know what they want
2017orECONOMIC informed and aware of their alternatives: 89 percent of consumers idayand shoppers said they’re they started researching potential purchases earlier. what price willing to pay when it comes time to buy.in October 7 . Retailers can join customers on their shopping g in person hese consumers were actually purchasing at this point, many already know what they want Holiday research vs. purchasing timeline or to reviews —or itrisk being left behind. etures willing pay when comes time to buy.
ARE YOU READY?
FORECAST RECAP:
REASSESSING PROSPECTS BEGIN RESEARCHING BEGIN PURCHASING FOR CONTINUED GROWTH Holidaysociety, research vs. want purchasing timeline ocial media-savvy shoppers to hear from their peers,
es up to its promises. In 2016, three-quarters holiday shoppers BEGIN RESEARCHING BEGIN of PURCHASING portant when choosing to make holiday purchases from a given 33% directly on a retailer’s site were the most helpful this past holiday 36% advice from friends and trusted colleagues. 25% 33% 17%
25%
27%
17%
13% 17% 8%
The Economic Forecast Breakfast, sponsored by SunTrust 36%
Bank, took place on Friday, September 8, 2017, at The Westin Richmond. Jack Kleinhenz, Ph.D., Chief Economist 27% Retail Federation (NRF) shared his for the National insights regarding the current economic climate. NOTABLE TAKEAWAYS:
11% 5% 2% to turn the corner toward a The economy is attempting started researching potential purchases in October or earlier. 1. 13% bit faster 11%want 5% growth, but the momentum has been slower tually purchasing at this point, September many already knowOctober what they November2% December December 8% Before than expected. mes time to buy. September first 2 weeks last 2 weeks While the pace of growth has not measured to past 2. December October December More than half beganNovember research in archSeptember vs. purchasing timeline there is no reason to expect that it will end lastexpansions, 2 weeks October or earlier—only 33% began making first 2 weeks RCHING BEGINactual PURCHASING anytime soon. The expansion has been subject to fits purchases in that timeframe. than half began research in and starts, but the narrative regarding the economic earlier—only 33% began making outlook has not changed. That is, economic activity purchases in that timeframe. 9 2017 HOLIDAY PLANNING PLAYBOOK is expected to continue but will probably oscillate 36% 33% around a trend of about two percent. Complicating the outlook are 9 uncertainties regarding prospective NG PLAYBOOK 27% fiscal policy and other policy changes. % 8%
3. The retail industry continues to evolve as retailers are
17% 11%
ctober
king
November
2%
December first 2 weeks
resizing and modifying their businesses. Firms are adjusting to meet consumers demand in a highlycompetitive environment.
5%
December last 2 weeks
4. All in all, as long as the economy creates jobs, the consumer will continue to spend. A step-up in wage growth and confidence would support a boost in spending.
Data chart provided by NRF1. National Retail Federation. (2017, August 16) NRF 2017 Holiday Planning Playbook. Retrieved from https://nrf.com/system/tdf/Documents/retail%20library/NRF%202017%20 Holiday%20Planning%20Playbook.pdf?file=1&title=2017%20Retail%20Holiday%20 Planning%20Playbook
BE PREPARED — According to NRF reports, 41% of consumers started their 2016 holiday shopping in October or earlier.2 Use the consumer shopping trends shown in the chart to your left to start planning now and ensure your business has a successful holiday season. For additional information, please visit www.NRF.com.
1
9
2016 Holiday Shopping Trends from NRF, The Prosper Analytics & Insights survey, which asked 7,733 consumers about holiday shopping plans, was conducted October 4-11 and has a margin of error of plus or minus 1.1 percentage points. 2
F E AT U R E D A R T I C L E S
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Staff Updates & Changes at RMA
VRF Legislative Updates
Free Promotional Opportunity
Welcome New RMA Members!
RMA News & Upcoming Events
R E TA I L M E R C H A N T S
ABOUT US RETAIL PARTNERS
Retail Merchants (RMA) is a membership organization that does everything with retailers in mind.
The Retail Partners Newsletter is typically published quarterly.
EDITORIAL OFFICES Retail Merchants 5101 Monument Avenue Richmond, Virginia 23230 804.662.5500
PUBLISHER Diana Kent dkent@retailmerchants.com
EDITOR Danni Neal dneal@retailmerchants.com
PROMOTE BEING LOYAL TO LOCAL THROUGHOUT RVA
VISION
Danni Neal dneal@retailmerchants.com
AD SALES Danni Neal dneal@retailmerchants.com
© 2017 Retail Merchants Richmond, VA All rights reserved.
We are committed to our members & the community. We are open, honest & direct communicators.
MISSION
We are professional & accountable.
To serve as the ultimate resource for local retailers to thrive.
@RetailMerchants
CONTENTS
DESIGN
EDUCATE & INSPIRE THROUGH EVENTS & PROGRAMS
CORE VALUES
We envision that every retailer is a member of Retail Merchants & sees value in their membership.
CONTRIBUTING WRITERS Caroline Ashby Danni Neal Gretchen Nurnberger Jodi Roth
USE OUR VOICE TO PROTECT THE RIGHTS OF RETAILERS
We are collaborators who promote connectivity, change & creativity. We expect excellence in ourselves & each other.
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2 0 1 7 E CO N O M I C F O R E C A S T R E C A P
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S TA F F CO R N E R
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T H E R M A S C E N E
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V R F L E G I S L AT I V E U P DAT E S :
R M A M E M B E R P I C N I C & V R F AU C T I O N R E C A P
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T H I N K . S H O P. B U Y . L OC A L :
FREE PROMOTIONAL OPPORTUNITY
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GET INVOLVED:
" L O YA L TO L OC A L " V I D E O PAC K AG E AVA I L A B L E
VA L O R AWA R D S S P O N S O R S H I P O P P O R T U N I T Y
N O M I N AT E A D I S T I N G U I S H E D R E TA I L E R TO DAY
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W E L CO M E N E W R M A M E M B E R S !
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R M A E V E N T S C A L E N DA R
2 | RETAIL PARTNERS
S TA F F CO R N E R
DEAR RMA MEMBERS, You spoke, we listened! To all of those who participated in the Retail Merchants' (RMA) focus groups, we so appreciate all of your time and input! Your feedback allowed us to identify the current needs and challenges of local retailers here in RVA. We recognized an overall theme around hiring and training challenges amongst many participants, as well as a request for more access to educational and collaborative opportunities. As a result, we will be making a few changes to ensure every one of our members finds value in their RMA membership. First thing's first! It's no secret digital assets provide more efficient means of communication. Therefore, in order to simplify your data-intake (and the paper piled up on your desk), RMA is going digital! Moving forward, we will be focusing our efforts on providing you, our members, with more timely updates and information, and producing timeless resources in order to help your businesses thrive. That's right, you are currently holding the final print copy of "Retail Partners," RMA's quarterly newsletter. To those who have helped keep this publication going - we thank you! Stay tuned — More changes are coming down the pike! Should you have any questions or concerns regarding any portion of your member benefits, please don't hesitate to contact us at any time.
We thank each and every one of you for your continued RMA membership and support. We look forward to being an ever-evolving resource to meet your needs! Sincerely, The RMA Team
NEW RMA STAFF MEMBERS:
WELCOME ABOARD, CAROLINE & ERIN!
YOU MAY HAVE NOTICED SOME NEW FACES HERE AT RMA. PLEASE JOIN US IN WELCOMING THEM TO THE FAMILY!
candidates nationwide and gained strong interpersonal skills.
MEMBER RELATIONS COORDINATOR
Caroline's role here at RMA focuses on developing relationship strategies to ensure member satisfaction and favorable member experiences. In addition, Caroline also manages the Richmond Region Hospitality Association (RRHA).
If you haven't heard from her already, you will soon! Caroline Ashby (above) joined the RMA team as the Member Relations Coordinator back in June and has done a great job of jumping right into her role!
A raised “Richmonder,” Caroline says she has found her passion working for RMA. She loves meeting members and being part of an organization whose focus is to help local retailers thrive.
After graduating from James Madison University (JMU), Caroline worked as a job recruiter for a large staffing firm, where she diligently hired qualified
MEMBER RELATIONS ADVISOR
We would also like to welcome Erin Hanratta (pictured right) to the RMA Team as the Member Relations 3 | RETAIL PARTNERS
Advisor! A VCU graduate, Erin joins us with a background in business development and sales. She lives in Richmond with her husband, Matt, and daughter, Penelope. She is excited about the new challenge of transitioning into her role here as she helps RMA members maximize their membership and ensures they are connecting, collaborating and engaged with the association.
THE RMA SCENE
01 Jocy Vuiller's (Addison Clark) son
enjoys a snack from Village Bank's popcorn machine at RMA's Annual Member Appreciation Picnic
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02 Amy Loving & Meredith Hall (The John Marshall Ballrooms & Homemades by Suzanne) at the RMA Member Picnic & VRF Silent Auction
03 Marco's Pizza celebrates the Grand Opening of its new location off John Rolfe Parkway
04 Gretchen Nurnberger (RMA) and John
Cario (Hilton Richmond Downtown) enjoy refreshments from the Growlers to Go truck at RMA's Annual Member Appreciation Picnic
05 John Jay Schwartz (Have Site Will Travel), Jim Roman (Speaker Trainer Consultant) and Blake Eudailey (Real Living Eudailey Real Estate) before the May Friday Forum Breakfast
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06 Steve Cornwell (Chesapeake Bank),
Caroline Ashby (RMA) & Frank Bell (Chesapeake Bank) mingle during the Connect@ Chesapeake Bank event
07 Doris Ann Kane (RTD) & Lee Chaharyn
(Richmond on Broad CafĂŠ / University of Richmond) at the June Friday Forum
08 Fonda Lang (Keiter) and Shade Wilson (Elevation) with May's Friday Forum speaker Aaron Dotson (Elevation)
09 Jennifer Finn (Capital One), Will Loving
(Altron Corporation), and Bryan Bostic (Spanish Moss Holdings, LLC) at the April Friday Forum Luncheon on Angel Investors
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10 Jodi Roth and Kate Baker (VRF) at the Annual RMA Member Appreciation Picnic and VRF Auction in May
11 Klark Brown (Michael & Sons Services)
shows off the new Michael and Sons Technical Academy
12 Jimmy Keith (KeithFabry Reprographic Solutions) addresses attendees of the Connect@ KeithFabry Reprographic Solutions
13 Virginia Commonwealth Bank (VCB) celebrates their merger in April
14 Sherrie Armstrong (The Community
Foundation), Nancy Bagranoff (UR's Robins School of Business) and Paige Mudd (RTD) after their panel discussion at the June Friday Forum
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15 Johnny Jones (Virginia Commonwealth
Bank), Nancy Thomas (RMA) & Randy Greene (Virginia Commonwealth Bank) at the May Friday Forum
16 JT
Stevens (Comcast Spotlight), Amanda Weiner, Gary Weiner (Saxon Shoes), Amanda Lupold (Comcast Spotlight), her guest Emily, & Jonathan Owens (GRTC Transit System) & his family enjoy the RMA Member Picnic
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THE RMA SCENE
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V R F U P DAT E
LEGISLATIVE UPDATES EVENT RECAP & YOUR IMPACT:
RMA MEMBER PICNIC & VRF AUCTION Many thanks to everyone who contributed to the Annual RMA Member Appreciation Picnic and another successful VRF Silent Auction!
• REMINDER •
In addition to the clear skies, this year's event featured an innovative online auction platform that allowed members from near and far to participate and bid on auction items. Collectively, with your help, we were able to raise nearly $7,500 for the VRF Political Action Committee (PAC).
ELECTION DAY 2017
As many of you know, VRF's PAC supports pro-business candidates who recognize the value of successful businesses and their contribution to the local economy. The VRF PAC not only informs and educates legislators about the issues retailers face on a daily basis, but enables local retail businesses an opportunity to share their legislative voice and participate in the electoral process.
DON'T MISS THIS YEAR'S VA GUBERNATORIAL ELECTION.
Thank you to all our members who donated this year's wonderful auction items, everyone who attended the Picnic & Auction and to all who purchased an auction item. We would not be able to protect the rights of our retailers without your support.
TUESDAY, NOVEMBER 7
ANY QUESTIONS?
UPCOMING VRF EVENTS:
VRF FALL CONFERENCE YOU'RE INVITED — Please join us for the VRF Fall Conference on Monday, October 2, from 11:30 a.m. to 7:30 p.m. at Kingsmill Resort in Williamsburg, VA.
KATE BAKER
kbaker@virginiaretailfederation.com 919.215.6273
VRF has extended invitations to both Gubernatorial Candidates, Lt. Gov. Ralph Northam and Ed Gillespie, and other Elected Officials. For just $45.00, admission to this event includes a luncheon, legislative meeting and reception. Don't miss this amazing opportunity to get in front of your elected officials! Register online today at VirginiaRetailFederation.com.
2018 LEGISLATIVE RECEPTION IT'S NEVER TOO EARLY — Be sure to mark your calendars! The Annual VRF Legislative Reception will take place at The Hilton Richmond Downtown on Monday, January 15, 2018, from 5:30-7:30 p.m. This event provides retailers an opportunity to mingle with elected officials as the General Assembly starts. JODI ROTH
jroth@virginiaretailfederation.com 804.690.4940
This event will be held during the 2018 Virginia General Assembly Session, which begins in early January. Be sure to sign-up for the VRF e-newsletter, "The Retail Advocate," to receive regular updates from your lobbyists throughout Session. 6 | RETAIL PARTNERS
M E M B E R U P DAT E S
NEW RMA MEMBERS
THINK. SHOP. BUY. LOCAL:
FREE PROMOTIONAL OPPORTUNITY
RMA is here to serve as the ultimate resource to help your business succeed and continuously thrive. Therefore, we have developed a free promotional opportunity for our members to gain added exposure on digital platforms and reach more consumers throughout the remainder of the year! JUST IN TIME FOR THE HOLIDAYS!
LOCAL FEED use #loyaltolocal to have posts shared
SHARE EVENTS
CALENDAR
HASHTAG PROMO
add events to the community calendar
We know it's a busy time of year for your business and you're juggling many hats at once, which is why we've tried to make it as simple as possible to participate! We will be collecting your business' social media content and reposting it through our Think. Shop. Buy. Local platforms to be shared with and seen by the RVA community. HOW TO PARTICIPATE:
In order to contribute to the Think. Shop. Buy. Local blog, simply post a photo and brief description of your best product or ongoing sale that corresponds with one of the upcoming holidays on your business' Facebook, Twitter, or Instagram, with the hashtags listed in the chart below. Be sure to mark the social post deadlines on your calendars and keep an eye out for all participating RMA member businesses on our Think. Shop. Buy. Local emails throughout the holiday season! QUESTIONS?
Please contact Megan Way at mway@retailmerchants.com or 804.288.8389 with any questions or concerns.
HOLIDAY
HASHTAG
DEADLINE
COLUMBUS DAY October 9, 2017
#RVACOLUMBUSDAY
OCTOBER 4, 2017
THANKSGIVING November 23, 2017
#RVATHANKSGIVING
NOVEMBER 13, 2017
BLACK FRIDAY November 24, 2017
#RVABLACKFRIDAY
NOVEMBER 15, 2017
SMALL BUSINESS SATURDAY November 24, 2017
#RVASHOPSMALL
NOVEMBER 15, 2017
CYBER MONDAY November 25, 2017
#RVACYBERMONDAY
NOVEMBER 15, 2017
HANUKKAH December 12, 2017
#RVAHANUKKAH
NOVEMBER 29, 2017
CHRISTMAS December 25, 2017
#RVAXMAS
DECEMBER 13, 2017
NEW YEARS December 31, 2017
#RVA2018
DECEMBER 27, 2017
8 | RETAIL PARTNERS
GET INVOLVED
LOYAL TO LOCAL:
VIDEO PACKAGE As many of you know, RMA created the "Loyal to Local" campaign under our Think. Shop. Buy. Local program in 2015, to promote the importance of shopping locally. In 2016, it expanded into a full video series that told the stories of local businesses throughout RVA. Now, nearly two years after the initial video's release, we are offering this opportunity to our members! We want to help share each member business' unique story with our new "Loyal to Local" video package. INTERESTED IN LEARNING MORE?
Additional information can be found online at RetailMerchants. com. Please contact Diana Kent at dkent@retailmerchants.com or 804.726.5043 with any questions. In the meantime, stay tuned for the release of more RMA member stories in the upcoming months!
We are very fortunate to be in Richmond with such a great population. Local businesses really are the heartbeat of the community. - Sarah Paxton, President/Co-Owner of LaDiff, speaks on why Richmond is the sole location of her long-time local business in LaDiff's "Loyal to Local" video.
SPONSORSHIP OPPORTUNITY:
ANNUAL VALOR AWARDS The 28th Annual Valor Awards Ceremony & Breakfast will take place on Wednesday, November 8, 2017, from 7:30 a.m. - 9:30 a.m. at the Greater Richmond Convention Center. Show your gratitude to First Responders of the Greater Richmond Region by becoming a sponsor of the Valor Awards! Proceeds from the sponsorships go towards ensuring that all First Responders and their families can attend the event as our guests. WISH TO SPONSOR THIS AMAZING EVENT?
Check out the event page on RetailMerchants.com/Events for more details. Please contact Gretchen Nurnberger at gnurnberger@ retailmerchants.com or 804.662.5518 with any questions.
• 2017 DISTINGUISHED RETAILER OF THE YEAR • SINCE 1966, THIS PRESTIGIOUS AWARD HAS BEEN PRESENTED TO A LOCAL RICHMOND BUSINESS. A "DISTINGUISHED RETAILER" IS A LOCAL BUSINESS OWNER WHO IS A PROVEN LEADER IN THEIR FIELD, WHO BOTH SUPPORTS & ENGAGES THE COMMUNITY. NOMINATE A DESERVING BUSINESS OWNER TODAY AT RETAILMERCHANTS.COM/NOMINATE.
9 | RETAIL PARTNERS
W E L CO M E TO R M A !
LOOK WHO HAS JOINED SINCE OUR LAST ISSUE:
WELCOME TO ALL NEW MEMBERS! Edward Jones
Temp-Power
HUSL / Snagajob
The Rec Room by Good Run Research
Lewis Plastic Surgery
Vector Security, Inc.
Quirk Hotel
Whitley's Peanut Factory
RE/MAX Commonwealth
TITLE SPONSOR
NEW MEMBERS AT THE APRIL FRIDAY FORUM LUNCHEON
TITLE SPONSOR
FROM LEFT TO RIGHT: Cathy Fallon (buyRVAart), Doug Carleton (SCORE), Steve Spiro (SCORE), Frances Santarella (Tarrant's West/Max's On Broad), Andrea Hughes (Tarrant's West/Max's On Broad), Jenni Kirby (buyRVAart)
NEW MEMBER AT THE JUNE FRIDAY FORUM BREAKFAST FROM LEFT TO RIGHT: Gretchen Nurnberger (RMA) and Mary Warren (Regency Square) pose with new member [Center] Sally Raderer (The Rec Room by Good Run Research)
ENGAGEMENT OPPORTUNITY:
NEW FRIDAY FORUM SPONSOR:
We have a new program for our members! All new RMA members and members attending their first event will have the option of being paired with a current member, or RMA Ambassador, at the event to introduce them to Retail Merchants.
SAY HELLO TO VIRGINIA COMMONWEALTH BANK —
RMA AMBASSADORS
A BIG WELCOME TO VCB! As you may have noticed, we have a new Friday Forum Title Sponsor for the duration of 2017!
INTERESTED IN PARTICIPATING?
Virginia Commonwealth Bank (VCB) is excited about making an impact in Richmond.
For more information, please contact Caroline Ashby at cashby@retailmerchants.com or 804.272.3915.
If you haven't already, please be sure to stop by their table at the next event and give them a warm welcome!
10 | RETAIL PARTNERS
NEWS & EVENTS
CALENDAR OF EVENTS
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RMA'S PRIORITY CLUB ATTEND RMA FRIDAY FORUMS REGULARLY?
OCTOBER 02
MEMBER DISCOUNT:
VRF FALL CONFERENCE RMA FRIDAY FORUM
Then Priority Club Membership is for you! For just $210, you (or a co-worker, if you can't make it) receive admission for 8 Friday Forums & the Economic Forecast, your own permanent name badge, priority seating, streamlined registration & the convenience of having paid once, for an entire year! Join now before prices increase in January!
with VCU Basketball Coach Mike Rhoades
RMA EVENT UPDATES:
KEY SESSION
SUBSCRIBE TODAY! DON'T MISS 'EM!
NOVEMBER 08
28TH ANNUAL VALOR AWARDS BREAKFAST
17
RMA RECYCLE DAY
RMA is going digital! Be sure to subscribe to our emails in order to stay up-to-date on all of the upcoming Retail Merchants' events and happenings! Sign up online today at RetailMerchants.com/Subscribe.
DECEMBER 01
DISTINGUISHED RETAILER OF THE YEAR AWARD CEREMONY
JANUARY 05
RMA FRIDAY FORUM
15
VRF ANNUAL LEGISLATIVE RECEPTION
REGISTER ONLINE AT RETAILMERCHANTS.COM.
11 | RETAIL PARTNERS
PRSRT STD US POSTAGE PAID RICHMOND, VA PERMIT #2254
RETAIL MERCHANTS | 5101 MONUMENT AVENUE, RICHMOND, VA 23230 | 804.662.5500 Facebook.com/RetailMerchants Facebook.com/ThinkShopBuyLocal Facebook.com/VirginiaRetailFederation Twitter.com/RetailMerchants Twitter.com/ShopLocalRVA Twitter.com/VARetailFed Instagram.com/ShopLocalRVA
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