Small and Strong, That’s You
Amazon and its battle with Walmart and other big-box and chain retailers dominates retailing news these days. How can small retailers hope to compete? By going with their considerable strengths, concluded a recent online discussion among members of RetailWire’s Brain Trust, a group of retail analysts, business academics, CEOs, marketers and other business gurus. As one marketing director stated: “It may seem counterintuitive, but I actually think that small retailers are in an ideal position to compete with the behemoths. They have a greater ability to define and control every aspect of the customer experience, from localized assortments that reflect local preferences to empowered and informed associates in the stores who are trained to deliver experiences that deliver against (and enrich) the brand promise.” Sound like a place you know?
How Do You Excel?
RetailWire Brain Trust members pinpointed other small-retailer strengths:
• “Very discerning (niche) retailers [can] deeply curate, connect and engage with customers at levels large retailers will find very difficult to credibly replicate.”
• “Small retailers can truly personalize the shopping experience, curate to their customer personas and increase loyalty by exceeding their customers’ expectations.”
• “Amazon is a weaker competitor when it comes to product curation, leading trends and supplier relations.”
• “Amazon is a great place to buy; it’s a bad place to shop. As a small player, how can you be a great place to shop? Succeeding there will bring people into your store, repeatedly and regularly, and lead them to spend more money than they ever would online.”
• “What will make [your customers’] experience, offline and online, something so effortless and pleasant that they will come back again and again?”
The best indie dance retailers have the answers to these last two questions right in their stores.
DON’T MISS…what competition kids like to wear to feel confident and stand out in a convention crowd, the latest rehearsal wear that lets them leave it all on the studio floor and performance-worthy accessories.
Photo by Nathan Sayers