2024, the Year of the Dragon is here. This year is supposed to be the year of Blue Dragon. It’s a leap year, too. A lot is happening this year. In Korea, there is a national election in April. In America, the presidential election in November. In fact, there will be presidential elections in Russia, Ukraine, Taiwan, Uruguay, Mexico and Venezuela just to name a few. Also, England, Iran, India and Pakistan are having general elections this year. This is literally a Big Bang year in the world politics.
How about us? After 4 years of Covid, more than 1/3 of drycleaners are gone. Store closing is still going on. We receive many copies back marked “VAC”(vacant) or “ATK”(attempted not known).
When will this downward spiral end?
Well, to some, it already did. We know of many stores with higher sales number than before Covid. Some report higher sales figure even with lower volume, thanks to price increase. Some are the beneficiaries of store closing. Some are reporting higher net profit, thanks to new equipment that saves labor. For them, the Covid tragedy finally has a happy ending.
The key to this is “evolution.” Our industry was having a downturn even before Covid. Even though app based service was booming, conventional mom-and-pot stores were experiencing a downturn. These stores were doing things the same way for the last 20, 30 years. They common response to shrinking sales was “Why change at my age.”
That should not be coming from Covid survivors.
People don’t wear less drycleanable clothes now? Then, promote your wash-and-fold service. Add pressing for an upcharge.
Young professionals are not coming to a drycleaner? Then, remind them “your time is ill-spent doing laundry at home. Use us for that.” Store app will definitely help.
Help is hard to find these days? Invest in new equipment to save labor. No monthly payment is higher than labor cost.
The landlord is kicking out drycleaners? Then convert to wetcleaning. If you still think wetcleaning is not an option, you need to open your eyes.
2024 is going to be special in many ways. For one, this will be the year our industry adapts and evolves. There will be new opportunities along the way. Study more. Try new ideas. Change your perspective.
Enough cringing. Beat your chest. Put fun back into work.
Happy New Year!
