Stay on Top!

Sharpen Your Competitive Edge to Thrive in Today’s

Retail World

Presented by Susan WagnerEditor, Smart Retailer

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Small Stores Are Forceful

• 95% of all retailers own just one store

• Small shops offer more choices for customers

• Small stores provide more venues for vendors

• Independent retailers can change quicker

State of the Retail World

• Challenging, but the New Normal

• Waffling Consumer Confidence

• Mobile Explosion• fCommerce• Price Transparency• Personalized Marketing• Customers are in

Control• Experience is Key

In-Store Magazine, RetailNext

Plan of Attack

• Determine what shoppers want and need

• Give them something the big guys can’t

• Market and promote your differences

• DON’T COMPETE ON PRICE!

How To Compete

• Be hands on• Develop good

customer relations• Demonstrate your

knowledge• Teach you staff

about customer service

How to Compete

• Know your customers

• Recognize loyalty in your customers

• Increase customers• Carry unique

merchandise

How to Compete

• Find a niche• Provide a

comfortable atmosphere

• Brand your store• Analyze your

pricing and inventory

How to Compete

• Don’t compete on price

• Let people know about your business

• Enter the battle committed

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