“Additional EIDL Options.  Does your business qualify?” by Management One (BRA Supporting Vendor Partner)

“Additional EIDL Options. Does your business qualify?” by Management One (BRA Supporting Vendor Partner)

Have you taken advantage of the latest round of SBA loan options? There are 2 main Economic Injury Disaster Loan (EIDL) Advances – called the Targeted EIDL Advance and Supplemental Targeted Advance. The Targeted EIDL Advance provides eligible businesses with $10,000 in total grant assistance. If you received the EIDL Advance last year in an amount less than $10,000, you may be eligible to receive the difference up to the full $10,000. The combined amount of the Targeted EIDL Advance and any previously received Advance will not exceed $10,000.Learn more about the Targeted EIDL Advance The Supplemental Targeted Advance provides the smallest and hardest hit eligible businesses with a supplemental payment of $5,000. Even if you have previously received the original EIDL Advance in the full amount of $10,000, you may be eligible for the Supplemental Targeted Advance if you meet eligibility criteria. The combined amount of the Supplemental Targeted Advance ($5,000) with any previously received EIDL Advance or Targeted EIDL Advance ($10,000) will not exceed $15,000. Learn more about the Supplemental Targeted Advance Free downloadable retail related tools can be accessed via: https://www.management-one.com/downloadable-retail-tools Please note that the link to this and other relevant Corona Virus related articles as well as links to helpful webinars, loans and other Covid 19 related resources can be found in The BRA Covid 19 Retailer Resource Guide, which was published in March and is still updated regularly. If you missed the most recent BRA Management One Collaborative Webinar, push play to view it now. Also stay tuned for the next BRA M1 Webinar, which will happen before the end of the 2nd Quarter. BRA note: We are...
BRA Covid-19 Retailer Resource Guide (strategies, webinars, loans and more) – published on March 23, 2020 / last updated with links to recently updated resources on April 30, 2021

BRA Covid-19 Retailer Resource Guide (strategies, webinars, loans and more) – published on March 23, 2020 / last updated with links to recently updated resources on April 30, 2021

Welcome to the BRA COVID-19 Resource Guide. Below you will find resources for the benefit of all board specialty retailers (BRA Retail Members and non-members alike) during this challenging period. The Board Retailers Association is actively aggregating resources to assist you in navigating these uncharted waters. We update this page with additional resources regularly. If you are interested in contributing relevant information or helpful resources that will benefit other board specialty retailers, please email our Executive Director at doug@boardretailers.org Relevant and trustworthy online resources providing facts related to transmission of Covid-19 (Corona Virus) and strategies to battle the spread #spreadthestokenotthevirus Center for Disease Control (CDC) – Official Website Flatten The Curve – Everything you and your customers need to know to battle COVID-19 is on this website World Health Organization – Mental health and psychosocial considerations during the COVID-19 outbreak This epic and relevant drawing was created by Reddit User Darth Voter Relevant educational webinars (on-demand) > Crystal Media – 3 Tips To Get Started With Social Selling Today and Staying Top-of-Mind and Connected to Customers During a Pandemic > Management One – 1) “The Retailer’s Guide to the Economic Stimulus Package & Financial Options to Address COVID-19” – The CARES Act is a complex mix of government aid and bank loans each with their own timelines and requirements. The parameters and regulations for these loans is changing hourly! 2) With rent being one of the highest monthly expenses for brick and mortar retail businesses, it’s a good idea to approach the subject of temporarily altering the structure of your agreement – The Art of Landlord Negotiation to Ease the Highest...
“Good news on vaccines, economy drives a sunnier view of retail at Moody’s” by Ben Unglesbee via Retail Dive

“Good news on vaccines, economy drives a sunnier view of retail at Moody’s” by Ben Unglesbee via Retail Dive

Dive Brief: Moody’s analysts see “broad-based improvement” ahead for the retail industry in 2021 as vaccinations grow and pressure from the COVID-19 pandemic eases, according to a recent report.The ratings agency lifted its industry outlook for retail to positive from stable based on a strong economic environment. Analysts now estimate operating profit to grow a “robust” 10% to 12% during the year.Those sectors hit hardest last year have some of the most room for growth, including apparel, department stores and off-price, the analysts said. Dive Insight: The Moody’s report comes on the heels of good general economic news. During the first quarter of 2021, the economy grew at an annualized rate of 6.4%, driven by consumer spending, government stimulus, residential investments and other factors, according to the Bureau of Economic Analysis. Meanwhile, the latest four-week average for jobless claims hit their lowest point since March 14, 2020, a sign that the general business environment is finally normalizing as inoculations against COVID-19 increase.  Vaccinations not only hold the promise for returning shoppers back to malls and other centers, but they can also open up the world more broadly. Office work, conferences, parties, weddings, travel, in-person school — are all poised for a comeback as COVID-19 cases decrease. And all of those things might help drive apparel and other retail spending.  It’s great news for the hardest hit retailers from the pandemic. S&P Global Ratings, for instance, raised its outlook for department store giant Macy’s this week. Analysts with S&P also cited a fast-improving economy and an expected apparel comeback in lifting the outlook for Macy’s, which was downgraded multiple times last year and posted a nearly $4...
“Vaccinations Do Not Mark the End of Americans’ COVID Shopping Behaviors: What Retailers Need to Know” by David Fisch via Total Retail

“Vaccinations Do Not Mark the End of Americans’ COVID Shopping Behaviors: What Retailers Need to Know” by David Fisch via Total Retail

We’ve entered the next stage of combating COVID-19 as vaccinations roll out across the country. While this may be the next step towards getting the pandemic under control, consumers remain wary. In fact, vaccine or not, most Americans said they would hardly change their current shopping behaviors — an important finding for retailers currently planning their long-term strategies. As part of our ongoing efforts to support brand and retail partners with regular insights throughout the COVID-19 pandemic, Shopkick recently surveyed more than 21,000 consumers to learn more about their sentiments toward the vaccine and how it will impact their shopping habits. What we learned is eye-opening. Many Consumers Don’t Plan to Get Vaccinated Part of the hesitancy to revert completely to pre-COVID shopping behaviors comes from the knowledge that many people will choose not to get vaccinated. While some of the folks surveyed had already received at least one dosage of the vaccine (8 percent) or were planning to receive it (48 percent), nearly half (44 percent) said they didn’t plan to get vaccinated at all. Retailers must also recognize how these views differ amongst demographics in order to successfully reach and engage with their target consumers. When broken down by generation, millennials made up the largest segment of those not confident in the vaccine (35 percent) and not planning to get vaccinated (51 percent). Meanwhile, the youngest and oldest generations proved the most confident in the vaccine, with 71 percent of Gen Zers and 75 percent of boomers saying they felt some level of confidence. Related story: How 2020 Shaped Consumer Behavior: Key Insights for 2021 Don’t Dismiss Online and Omnichannel — Consumers...
“Stimulus checks in hand, consumers are ready to shop. But are retailers ready for the influx?” by Martha C. White via NBC News

“Stimulus checks in hand, consumers are ready to shop. But are retailers ready for the influx?” by Martha C. White via NBC News

Shoppers wearing protective masks carry bags inside a shopping mall in San Francisco on March 9, 2021.David Paul Morris / Bloomberg via Getty Images Shortages and supply chain bottlenecks may throw cold water on the upcoming consumer spending surge. Economists and policymakers are forecasting a surge in consumer spending this year, as the Covid-19 vaccination rollout accelerates, business restrictions ease and schools reopen. But retailers are already finding that shortages and supply chain bottlenecks could imperil their ability to facilitate the spending that contributes a significant chunk of the nation’s economic activity. Federal Reserve board members and regional Fed presidents expect that the U.S. economy will grow by 6.5 percent this year, in line with the expectations of the Organization for Economic Cooperation and Development. A prominent retail trade group is forecasting sales will increase by as much as 8.2 percent over last year, up to $4.4 trillion of economic activity. “We remain optimistic that retail will help facilitate a surge in spending, job growth and capital investment,” National Retail Federation president and CEO Matthew Shay said in a statement. This means retailers need to forecast what American shoppers want to buy and make sure they have the supply chains in place to supply the inventory, and the distribution networks to get those goods into buyers’ hands. It’s no small task, analysts and retail consultants say. “Many of my retail clients are very hopeful for that boomerang in customer traffic coming back in stores,” said Sean Whitehouse, managing director at Accenture. The challenge for retailers is trying to predict what people will buy when the world becomes unpredictable. “You’d have to...
“Did you miss the live M1 webinar session this week? Not to worry, we recorded it for you!” via BRA Supporting Vendor Partner Management One

“Did you miss the live M1 webinar session this week? Not to worry, we recorded it for you!” via BRA Supporting Vendor Partner Management One

In this free educational webinar we sat down with industry experts to discuss changes to round 2 of the PPP geared towards helping small businesses. What does this mean for YOUR retail business? We cover everything you need to know on our live webinar session. In December, the PPP loan program was given new life, but that’s not the only source of financial assistance available to retailers in this crisis. Join Management One as we invited a panel of financial experts to discuss the levers available to retailers to optimize access to government stimulus options and evolve their merchandise strategies. Financial Keys to Retail Success in 2021 PPP and Beyond Webinar on Demand Download the PPP Worksheet here: https://www.management-one.com/ppp-lo…​ Thank you for attending our live session as we sat down with industry experts to discuss changes to round 2 of the PPP geared towards helping small businesses. What does this mean for YOUR retail business? We’ll cover everything you need to know on our live webinar session. In December, the PPP loan program was given new life, but that’s not the only source of financial assistance available to retailers in this crisis. Join Management One as we invite a panel of financial experts to discuss the levers available to retailers to optimize access to government stimulus options and evolve their merchandise strategies. View this free, live discussion with Rich Rose of Rainstar Capital and Missy Waites of Alliant Group as we talk through the various financial options retailers have at their disposal. Marc Weiss, Erin King and Paul Erickson from M1 will also offer key insights into how these...