Retail / Small Business News

5 ways small retailers avoid failure

some good tips for small businesses …

StrategyAudit

Things to avoid Things to avoid

Small retailers see themselves as under siege, and many just hunker down and work harder to survive, for many, it is too hard.

For those that survive, some are doing really well, and there seems to be a few common themes. Few are doing them all, but all seems to be picking one or two and really delivering:

  1. They treat the shopping experience as an occasion, they set out to deliver to their customers fun, social acceptance, an opportunity to express themselves, deliver serendipity, information, and  advice to their customers. In short they are not there to flog product, they are there to provide a service, which happens to involve customers buying stuff.
  2. They carve out a niche, something distinctive, and set out to “own” it, at least in the local area. A friend of mine runs a small retail business, “Affordable Decor” in suburban Croydon…

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