Retailers remain upbeat despite economic pressures

CHICAGO -- Consultant Ian Baldwin’s talk, “Maximizing Profits in a Soft Economy,” drew a big crowd of retailers attending the Independent Garden Center Show in Chicago, which kicked off yesterday. Here are a few pointers Baldwin offered for securing profit during tight times:

* Watch inventory -- slash non-performing items.
* Boost good people, lose the poor performers.
* Challenge the use of space, cash and time.

And what shouldn’t you do?
* Cut back on advertising.
* Slash orders across the board.
* Cancel fun stuff and morale-boosting activities for employees.

Most retailers appear to be taking today’s economic pressures in stride. The mood on the trade show floor yesterday attested to that. The place was abuzz with activity. Vendors had their hands full dealing with the crowds. Exhibitors I talked with had high hopes for this show, and many were eager to show off new products and line extensions.

Check back here tomorrow for more news direct from the show floor.

-- Sarah