photo: Ultrasuede pillows by JOY by Mel Lim.

“The economic situation has affected everyone. Times like this, we understand why people would not want to buy a $7 greeting card, let alone a $200 pillow,” says Mel of JOY by Mel Lim. But, she says, “it is an opportunity to refocus, evaluate and understand our business plans better.”

Lots of designers and shop keepers feel the same way. Here area few ways they are compensating for a slower economy:

photo: Cotton Idea Studio

Mindy of Cotton Idea Studio says she looks at the current economic situation “as an opportunity to really refine what products we bring into the shoppe.” She is buying less general boxed merchandise, but is selling more custom goods this year, like personal stationery.

Recycled fibers make pulp, part of the paper-making process at Green Paper Company

Joan Schnee of Green Paper Company says, “being sustainable in your own business is key.” She says “we use only what we need, spend what we have, and deliver on time. There is no excess.”

SoLo is an upscale collective that showcases the collections of eight creative and dynamic women, each with their own distinct style.

Carole Carden (SoLo) suspects “the slowdown of the economy is keeping new designers out of the business,” so she and her merchant vendors, including Jen Price, Ruby Lang and Sonya Kemp, are looking online and are traveling to smaller cities to scout for new talent.

Michael and Douglas (Motel Deluxe) are compensating for a slowdown by making more in-person sales trips around the country. “It’s been very successful, plus it’s fun,” says Michael. I’m taking this approach this year, too (Chicago, Austin, Atlanta and Charleston here I come!). Their retail store, Cursive, has a strong tourist business (their shop is located within the mega store ABC Carpet & Home in Manhattan). “Now that Americans are not traveling as much we are relying more on the Europeans and the Brits … it’s bargain shopping for them!”

photo: Mel Lim’s booth at PULSE

Mel (Joy by Mel Lim) and Brandon (Blue Barnhouse) are compensating for a slowdown by exhibiting at international trade shows.

photo: Blue Barnhouse‘s booth at National Stationery Show.

Upon return from a trade show in Canada, Brandon said, “it was interesting to see that the economy has not at all affected Canada … in fact they’re living kind of fat right now, as I gathered!”

Mel Lim’s advice: “EXPORT!”

Tweet