Is the art of being a niche specialty shop coming to an end as consumers edge towards convenience? From large supermarkets selling everything from Sushi to car insurance, a similar trend is appearing in small retail places which are extending their product line into complementary (and sometimes very different) areas, all of which are connected by a common brand look or promise. For small business retailers, this often means starting small and focused, then once you have gained valuable customer insights, and a loyal following, you can expand out into other areas. As the old saying goes, “you can’t be everything to everyone”, but you may certainly be able to get a larger share of wallet for your best customers.
The article below from Brian Walker via Inside Retail highlights the new breed of modern day retailers looking to expand their offering into all corners of our life.