November 30, 2011

Will That Be Cash, Check, or Credit? Merchants Hope for Improved Sales

It’s not the most ennobling time of the year. People eat themselves silly on Thursday, then shop until they drop on Friday. (And for some, “Friday” can actually mean a 12:01 a.m. dash to the nearest mall.)

The Saturday after Thanksgiving has been somewhat dignified with the creation, by American Express, of “Small Business Saturday.” Now in its second year, the day’s directive to “shop small” by patronizing independent area businesses was endorsed locally by both the Princeton Merchants Association and the Princeton Chamber of Commerce.

A Sunday treat, courtesy of the Borough in collaboration with the Princeton Merchants Association, was the appearance of “Free Holiday Parking” bags over Borough meters. “The Borough works very nicely with us,” reported Anita Fresolone, Marketing Director of Palmer Square Associates and Merchants Association Vice President. In addition to free parking every Sunday through Christmas, Ms. Fresolone said, the Borough had kindly donated the time of public works employees to hang the festive wreaths around Palmer Square. Describing efforts to make shoppers aware of Small Business Saturday in Princeton, she noted that “our independents are our gems.”

So how did Princeton Merchants fare over Black Friday/Small Business Saturday/free parking Sunday?

While the spring-like weather drew lots of people outdoors, it was not, however, a particular boon to a store that sells “The World’s Most Beautiful Woolens.”

“It’s been a very nice fall; it would be nicer if it got a little colder,” said Landau co-owner Henry Landau. He reported, though, that business is brisker than it was last year, with lots of coats, hats, and scarves being sold, along with the “logo” items that students like to take home. Mr. Landau also did his share on Sunday by bagging the meters with “free parking” notices along the store’s Nassau Street block.

“The Square was certainly filled,” reported Palmer Square Management Vice-President David Newton. Although he had not yet received the weekend’s reports, he thought that “it looked like things were going well. We heard some nice stories, with people saying that there’s a lot of activity.” The Palmer Square Christmas tree lighting drew some 5,000 people, he said.

“There was an enormous amount of spending restraint in September and October,” added Mr. Newton. “We’re coming off the back of a couple of very, very tough years; the retailers deserve an uplift.” One source of encouragement for Palmer Square, he noted, is the “big interest” that has been shown for rental units in the Palmer Square Residences.

Economics also apparently affect eating styles. Although he said that “things are picking up,” The Little Chef Bakery owner Edwige Fils-Aimé said that it still isn’t “like it used to be” when he first came to Princeton ten years ago. Food lovers and anthropologists observing indigenous eating patterns, may be interested in Mr. Fils-Aimé’s report that another difference from the past is people’s current preference for cakes, rather than the traditional pies of the season.