Ready for a big year?
Here’s the first in our series of 2016 Advice for Retailers.
Despite the BIG BITE taken out of smaller stores’ sales by the Big Boxers – Walmart, Target, Costco, Sams, Amazon and Ebay, there’s a big advantage for specialty niche marketers.
So, here’s some 2016 Retailers Advice in a nutshell:
Think small. Specialize. Entertain. That’s right, if you’re not a mega big box store and you want to stay in business, think small, be entertaining and specialize.
That’s not just our advice, it’s the advice from one of the largest research centers in the USA – Nielson Research, the folks you bring you the Nielson ratings for TV media and many other insightful pieces of information.
Here’s what they have to say for 2016:
1. Go micro –If you’re not a BIG BOX store, then specialize in grab-and-go convenience items or specialize in your niche.
2. Be Entertaining –This is GREAT news for smaller specialty gift stores. Add posters, video screens, interactive classes and more. Make your store a haven for the tired, teched-out soul.
3. Go Mobile Friendly –If you have an on-line store, ramp up your website to be mobile friendly. If you have a brick and mortar store, revamp your payment systems to accept Apple Pay and Android Pay. And if you don’t at least have a brochure website, get one! (Or see our friends at Bizwebery who can point you in the right direction and/or create an economical, mobile friendly site for you.
And here’s some advice from our personal experience:
—Forget Discounting! Stop trying to compete on price with every fly-by-night Ebay or Amazon seller. It will bankrupt you.
—Find your niche and spend time thinking of every way you can leverage what you already have.
—Add Posters & Pictures People love pictures. Actually, the human brain LOVES images and recognizes them something like 60,000 times faster than words! Whether you have a B&M (brick and mortar) or online store, add entertaining images–not just of merchandise. Make the shopping experience visual.
—Customer service Customer service. Customer service. If you have grumpy employees–get rid of ’em. There are plenty of people out there who would LOVE to have that job. A grumpy, lazy, unpleasant sales person can destroy your business. And don’t expect customers to tell you they’ve had a bad experience. They’ll just tell their friends!
We have a hundred more ideas how you can leverage your existing niche shop to help you outflank those big guys. The fun is just beginning! Stay tuned for more articles in this series.
Remember: Think Small. Think Convenient. Think Entertaining. Think Smart (and work less).