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After moving their business to Ballantyne 10 years ago, the owners of the Cubbyhole gift shop watched as the area boomed. But as job and recession worries sent chills rippling last fall and winter, the store's sales dropped. Some other nearby shops and restaurants departed for good, leaving vacancies in their wake.
Recently, though, the Cubbyhole has noticed shoppers' spirits - and their willingness to spend - picking up. And as a result, the store is preparing confidently for the upcoming, crucial holiday season, said Geralyn Holcombe, co-owner with Carolyn Turner and Charlotte Grimes.
"It's not going to be what it was two years ago," Holcombe said. "(But) we think we're going to have a great Christmas."
The shop at Ballantyne Commons East is a colorful cornucopia of baby gifts, cards, picture frames, kitchen items, bath and body products, purses, jewelry and accessories, including the popular Brighton line. Clerks warmly greet customers as they browse.
Unlike Ballantyne-area stores that had opened more recently, the Cubbyhole has the advantage of a loyal clientele - 95 percent women - to help it weather the recession, Holcombe said.
And, she said, it had always offered plenty of reasonably priced items, with a focus on service.
Those factors helped keep traffic steady, even as customers apologetically came in and said they couldn't spend as much as in the past, Holcombe said. Many Ballantyne-area young families, she said, staked their lives there on a large home and have since lost jobs in banking or real estate.
"We've just seen people redirect," she said. "When maybe they would've thought nothing of buying a $25 gift, maybe they'll buy a $5 gift." Sales of cards have increased, especially those with encouraging messages.
The Cubbyhole has trimmed its spending to cope with the pullback, finding better prices on ribbon and tissue paper so it could continue to offer free gift wrapping, which it sees as an important personal touch. It secured free shipping from some vendors. It's also run more sales and coupons, which boosted business, Holcombe said.
When the owners traveled to Atlanta in July for their holiday ordering market, they found several large vendors had gone bankrupt. Others offered less to buy, because they were afraid of getting stuck with unsold goods.
So Holcombe and her partners worked to find vendors with fresh inventory, so they could enliven the store with new products for Christmas, Holcombe said.
Sales were flat in August compared to the same month last year, and up in September, much to Holcombe's surprise. She's taking that as a good sign.
"We're taking a chance on Christmas and fall, and we hope it's all going to work out," she said. "I'm hoping what we see here in the Cubbyhole goes for our whole city."
