As we prepare for a PMA that many folks in the industry have been rather blasé about, it's important to take stock of what we've all been through and begin to realize the worst is undoubtedly behind us. If nothing else, this PMA should be a celebration about that and an opportunity to talk about something other than the recession and what it has been doing to business.
While I'm not suggesting the sun is shining brightly again, there have been indicators that U.S. retailers will get a bit of a reprieve in 2010, though no one is predicting a robust recovery. The high unemployment rate and beefy consumer debt numbers will still temper spending but a better-than-expected holiday selling season for many retailers was certainly a good sign.
And speaking of gaining some optimistic perspective from industry trade shows, The National Retail Federation (NRF) annual expo in New York last month, that gathers thousands of retailers as well as vendors of services like staffing and consulting, tells us that their retailer attendance was up about 27 percent from 2009.
NRF spokesman Scott Krugman was certainly happy about that news saying, “Attendance overall was tracking at January 2008 levels. We feel this was the case because they see a bounce-back is about to happen and it's about positioning themselves for that. It's going to be the year of the retail recovery…if only a very fragile recovery.”
This isn't to say the first half of this year won't be a challenge as cost-cutting measures that were made throughout 2009 will lead to some scrambling. Things like inventory cutting, marketing budget slashing and worker layoffs are never easy to rebound from. Those that move the most creatively and wisely in these next few months will be in the best position for recovery in the second half of 2010.
PMA had designated May as National Photo Month many years ago, and this year it might be dubbed National Recovery Month as we should indeed know by then whether consumer confidence is truly bouncing back.
Having said all that, it is great to be at the dawn of another PMA and we're looking forward to all the new products and new technology we'll be treated to at this year's show. There's no such thing as a bad PMA and you know what, that was indeed the sun I saw shining above the convention center this morning.
Have a great show!
Publisher/Editor-in-Chief
Michael McEnaney
