The Daily Guide Winter 2023 - 8

Pulse
RET AIL
Retail Survival
The most successful retailers ingrain themselves in the community.
They figure out creative solutions to current problems
rather than giving in. To that end, we look at three pressing
shop concerns over the past year - rentals, inventory, and succession
plans - and see how retailers have tackled them to
continue to thrive. By Doug Schnitzspahn
T
here's a lot of doomcasting
when it comes
to outdoor specialty
retail out there. And
the recent shuttering of industry
icon Midwest Mountaineering
as well as Dick's closing down 11
of 14 Moosejaw shops just piles
on to the pessimism. Of course,
shifts in the retail landscape
and consumer habits are a real
concern to established and new
shops - but that's business. The
reality is that savvy retailers are
adapting, expanding, and getting
the work done to stay open and
grow. And we are not hearing
enough stories about those shops.
How do they do it? We looked
at three big concerns in 2023 -
rental programs, inventory, and
8
succession plans - and how the
best retailers are building solutions
into their businesses.
MOVE IT FORWARD: RENTALS
AND CONSIGNMENT
There has been a big push for
old stuff, for used and rental gear,
at retail. Customers see it as both
an issue of practicality (why buy
a bear container when I just need
it for one trip to a national park
in the Rockies?) sustainability
(why create more junk?). This
is not groundbreaking; many
retailers began as consignment
shops and rentals are an important
way to get customers in the
door. There are some keys to
success, however. Mike Donohue,
co-owner of Vermont's Outdoor
GUIDE / OUTDOOR RETAILER WINTER 2023
Gear Exchange - which began as
a consignment shop and is in the
process of opening a new storefront
in addition to its iconic
downtown Burlington storefront
- has seen his rental program
evolve to benefit his customers
and boost sales but learned that
less is more.
" The category is the most
important thing, " he says,
" not necessarily renting every
product that we sell. We have
learned you can't be everything
for everybody. At one point, we
were renting 70 different bikes,
20 different models, and that's
just too many. So, we narrowed it
down. In skis, we have an entrylevel,
affordable option and then
premium rental options - it's a
tighter selection than we used to
have, but there's still the option
for people to try a few different
things. If someone is trying to
compare because they're just
getting back into the sport or
learning about it, they can see
what a wood-core ski feels like
compared to a front side ripper
with two sheets of metal. "
Donohue sees the dynamics
and scope of rental programs differing
depending upon a store's
location and needs of its customers.
He acknowledges it can be
a good revenue stream and that
it can encourage customers to
buy other needs-sunblock, fuel,
freeze-dried food-when they
rent. But most of all, he thinks
rentals can help make people
more passionate and dedicated
to the outdoors. " Don't view it
as losing sales to people who are
just trying to gear out. There's
probably a tiny bit of that, but
more importantly, you're exposing
more people to potentially a
new lifetime sport. They could
be your customers for life. More
altruistically, they could discover
another way to have the best time
of their lives outside. "
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The Daily Guide Winter 2023

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