Archive for retailers

Retailers and small business owners have been hit hard due to consumers cutting back on spending.  The recession is painfully reaching every industry worldwide.   Therefore, what do retailers do in 2010 differently than in the past? How do businesses stay afloat during these disheartening economic times?  What are the business trends to follow?  There are key elements present in big box retail chains allowing sales to remain while others falter.

Concentrate on Consumer Ease

Successful retailers separate themselves from the rest of the pack by focusing on customer convenience.  These businesses have examined consumer behavior and traits.  They have asked themselves if consumers prefer to purchase the items in the store or online.  If the answer is online then the flourishing businesses are ensuring the service is available.  It helps make certain earned profits occur regardless of the economic climate.

Provide Value

Consumers are aggressively seeking the best deals no matter how seemingly insignificant the purchase may appear.  Therefore, businesses aware of this trend are thriving.  For the profitable retailers are constantly comparing prices with competitors and pricing accordingly.  Furthermore, offering a benefit at a lower cost than others results in customers flocking.  The big box retailers of today know this model and emulate it better than the rest.  It is why big box retailers are ringing up sales, while other business doors are closing.

Promote Unique Brand

Target has affiliated itself with designers who create lines specifically for Target only.  Fry’s Grocery Stores sell Kroger Signature brand products.  Safeway has Eating Right as its original brand found only in Safeway affiliated stores.  These are examples of creating, developing, promoting, and, ultimately, selling a unique brand.  It keeps these retailers distinguished from other competitors in similar fields.

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