Over the past few years, big-name retailers have moved to smaller stores. target , for one, already has many small stores in different urban areas. Small-format stores continue to grow, bringing more convenient places to shoppers year after year.
There’s also IKEA, which now has 44 small-format stores in the UK, Canada, Norway, Italy, Japan and China. And let’s not forget Nordstrom, which opened a 3,000-square-foot store in West Hollywood late last year called “Nordstrom Local.”
There is the fact that retailing has
become much more convenient and affordable today. With e-commerce, free shipping, and fast delivery, consumers no longer have to drive to a big box store and browse the aisles to find what they need.
As a result, big retailers looking to keep up are setting up stores closer to where their customers are.
It’s also important to note that in certain locations (ie, dense urban markets) it makes more sense to have small stores that cater to people’s immediate needs than to have a 100,000 square foot supermarket where shoppers have to travel.
Yes, big retailers going “small” is a trend that is clearly gaining momentum. The question is, should SMEs be worried?
Here’s the answer: retailers that laos whatsapp number data offer great products, unmatched customer service, and engaging experiences will still be able to compete with big box retailers setting up shop in their neighborhoods.
Hospitality and retail brands need to save time and reduce costs by implementing programmatic and brand standards. Execution is key.
a cloud-based application for automating audits, action plans and tasks. Deploy and validate brand standards, tasks and remedial actions on sites with ease. Get real-time reports, signatures, videos and photo verification.
Staying competitive in retail today isn’t
about having more products. Instead, it’s about having firsts . Your assortment will be a key driver of traffic and sales. So invest the time and resources to get it right.
Make sure your inventory page on how users can adequately reflects the needs of the communities you serve. Pay attention to shopper demographics, local trends, inventory movements, even the weather in each area, then work with your suppliers to stock.
Retailers who have invested in localization bw lists are seeing results. Take Zumiez for example. According to Retail Information Systems , in 2017 “the retailer increased its compote sales by 7.91 TP2T, nearly doubling the lower end of its guidance prediction of 4% to 6% year-on-year growth.”