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Success Comes to Those Who Innovate
By businessbroad | March 5, 2008
In an increasingly competitive small business world, you have to do something differently to carve out your niche beside stores like Wal-Mart, Target, Linens and Things, and every other massive store that has a price advantage. Whether you start a wine club for your customers, aim to provide a high level of knowledge and assistance (which you’d never get from a minimum wage 16-year-old in the big box competitors), or create a children’s play area so moms can shop in peace, you have to do something unique.
A few more ideas:
-Keep the very newest items in stock. It can take big retailers months or even years to get an item into the stores (assuming that it’s not part of their distribution network as with movies, magazines, and video games). As an independent, you can call the manufacturer and have a product on your shelf in just a week or two. Just be extra cautious with popular items around the holidays, as most manufacturers will send available stock to their big customers before the little guys get anything. If it’s sold out, you’re probably out of luck.
-Snacks! Just make sure that it’s affordable and that it won’t make a mess all over your inventory.
-Clubs - Plenty of pottery stores host clubs and classes to teach those skills to customers and members of the community. If you’re a clothing store, try offering classes in dressing more adventurously or designing your own.
-Guest Appearances - If you sell Thomas Kinkade art, see if you can get him to come in (yes, this is a tough one). It works best with smaller, independent designers, but there’s no harm in trying to get a big name, too. You never know when they’ll be in the area.
Topics: General Business |