Ever since the dawn of the big-box store, smaller local businesses have struggled to compete.
Fast-forward to 2019 and the picture is far less rosy for the big boxes. Store closings are rampant, some iconic retailers are fighting for survival (Sears) and others have gone out of business entirely (Toys “R” Us). Despite this, big-box stores still represent significant competition to small retailers.
Below, we explore tactics that small businesses can use to provide a retail experience that the big-box stores simply can’t replicate.
Leverage Your Local Niche
One of the biggest differences between big-box stores and small, local businesses is that big-box stores are built on a business model that requires them to order large quantities of every product they carry. This often results in the carrying of generic products made in bulk overseas, and leaves little room for bringing in new, locally made products to offer repeat customers. If big-box shoppers are looking for a new, unique product to try, they won’t be looking for it at their local big-box retailer.
This is something small businesses can take advantage of by offering customers something they can’t get at the big-box store down the street. Many small businesses work with local artists and retailers to find unique products made in smaller batches. Being the exclusive retailer for a line of products is a great way to encourage repeat customers interested in niche goods and gifts that are unique and harder…