Investigating Business Retention and Expansion among Antique Retailers in Tourist

Destinations Regions

Christopher M. Sieverdes, Clemson University; Sharon K. Strouse, The Ohio State UniversityAssisted by Ute Sybille Hecht, Clemson University

Sample/Methods

• 32 mail surveys completed– Ohio (10) - South Carolina (22)

• 18 non-responses, after multiple contacts

• Storefront retail business with address listing

• Currently in business

• Located in a tourist destination region (Heritage Area)

Retail 27%Wholesale 12%Dealer 23%Non-Dealer 2%Tie to other business 10%Estate Sales, Auction

Consignment 7 +

Description of the Antique Business

Furniture, clocks, large items, carpets, rugs 19Small items, china, novelty, silver, pictures 13

Type of Antique Merchandise Sold

Ownership of Antique Business:Single Family Owner/Operator 23 72%

Separate Owner/Operator 1 3%

Partnership 6 19%

Other 2 6%

Years in Business:1-4 years 6 19%5-7 years 10 31%8-15 years 8 25%16 + years 8 25%

Years of Experience in Antique Business:1-8 years 8 25%9-15 years 8 25%16-20 years 8 25%21 + 8 25%

Percentage Local & Regional Sales

Under 34% 11 38%

34-66 13 45%

Over 66% 8 17%

• Percentage of In-State Sales

• Under 34% 18 62%

• 34-66 9 31%

• Over 66% 3 7%

Percentage of Out-of-State Sales

• Under 34% 20 69%

• 34-66 8 28%

• Over 66% 1 3%

Highest Sales DaySaturday

30-60% of all weekly sales 86%

Less than 30% 14%

Next highest sales day:

Friday – 5-40% of all sales

Frequency of Sign Change:

Weekly or Monthly 5 19%

Quarterly 4 15%

Once a Year 6 23%

2+ Years 3 12%

Never 8 31%

Importance of Location of Antique Business (3 Factors Rated)

Be in center of action, high traffic area 23 (79%) Very Important

Be clustered with other antique retailers/dealers 10 (39%) Very Important

Be a “One of a Kind.” Few retailers/dealers near 5 (19%) Very Important

Expectation of Demand Change

Expect increase 19 66%

Stay the same 9 31%

Decrease 1 3%

Special or Unique about Products or Services

Specialized items 9 35%

Large variety, large inventory 7 27%

Customer service, integrity 5 19%

Quality product 5 19%

Peak Business Season

Fall & Spring 29%

Fall 21%

Summer & Fall 14%

Winter 14%

Summer 11%

Christmas & Summer 11%

Peak Reason

Tourist Season 62%

Travel 39%

Most Successful Means of Attracting Customers to Establishment

Factors Ranked First by Category

Location and signage 13 45%

Word of Mouth, repeat customers, honesty integrity 15 52%

Attractive storefront, interior, layout 5 16%

Related business 3 10%

Newspaper ads, inserts 2 7%

Special pricing, special promotions 1 3%

Communication with target audience 2 7%

Tie to community events, festivals, carnivals, sports 0 0%

Problems indicated with Public Services and Employee Training Needs

• Minimal concerns related to public services such as public safety, zoning, EMS/hospital, building inspection reported

• Some concern about Water/sewer service (n=3)

• Too high traffic volume (n=3)

• Lack of chamber support (n=4)

Success Factors Cited:Customer Service 11 (41%)Quality Products 7 (26%)Location, traffic Flow 3 (9%)Price Value Marketing 2 (6%)Variety Merchandise 2 (6%)Economy Strength 1 (4%)Favorable Business Hours 1 (4%)

Advice from Antique Retailers:Start small 24%

Build knowledge, pricing, quality 12%

Reduce financial burden 8%

Research marketing base, plan 20%

Focus on customer service, integrity, dependable hours 12%

Do not expect to get rich 24%

Summary of Findings:

• No difference in size/scope between Ohio and South Carolina antique retailers

• Focus of sales on Friday & Saturday

• Lack of employees

• Lack of training (skills, hospitality industry)

• Community services – nothing identified as a barrier to operations (building codes, zoning ordinances, etc.)• Lack of understanding/ identification of antique retail business terms (dealer, non-dealer, wholesaling, web-based retail, etc.)

Red Flag Issues

• Lack of communication and connectivity to chamber/community - identified by owners as a weakness.

• Lack of perceived need for local/regional advertising and communication.

• Lack of dependability regarding storefront business hours/days of week.

• Lack of business diversification related to technology.

Implications

• Product

• Customer Relations

• Location

• Independence

Investigating Business Retention and Expansion among Antique Retailers in

Tourist Destinations Regions

Christopher M. SieverdesClemson University

csvrds@clemson.edu

Sharon K. StrouseThe Ohio State University

Strouse.1@osu.edu

Assisted by

Ute Sybille HechtClemson University

uhecht@clemson.edu