As consumer confidence plunges worldwide, independent retailers must leverage their advantages (e.g. personal relationships, unique selection of products, and ability to deliver superior or customised services) over chain stores. Here are some tips to fight the bitter winter…
A. Savoir Faire
Independent stores offer an intimate shopping experience that chain stores cannot probide. Being savvy and communicative with your clients may amp up their shopping experience and loyalty to your store. Sharing with your customer a story, the design ethos, or the origin of a product adds depth and meaning to their acquisition.
B. Eclectic Selection
As customers rein in spending, independent store owners need to keep a lean inventory to keep costs down. Displaying an eclectic array of quality products in smaller quantities rather than the “50% Off” sign will more likely attract the well-heeled customers. This may be the right moment to experiment and stock up higher quality independent labels in smaller volume
C. Optimised Points of Sales
Retailer with a web presence may consider cross promoting web site with in store traffic and vice versa.