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How To Compete Against Big-Box Retailers
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Article 3: Give Shoppers What The Big Box Won’t
The big-box stores offer huge selections of merchandise. Doesn’t it sometimes seem like they stock everything possible – except the one item you’re looking for?
Well, that’s exactly the point: You can do an end run around the competition by surveying your shoppers for their unmet needs. Then offer the merchandise that’s lacking from the big-box shelves.
“There is a lot of pressure on smaller retailers to distinguish themselves by offering unique products to cater to their local communities,” explains Dr. Barton Weitz, Executive Director of the University of Florida’s Miller Center for Retailing Education and Research.
“This is exactly what the larger, national chains have a difficult time doing. Each of their stores kind of looks like the others in their chains. And when they try to adapt individual stores to the local market they do it from the corporate headquarters. As a result they are not as sensitive to what the local shoppers want.”
Capitalize on this failing. Constantly survey your customers to find out what merchandise they’re looking for and can never find. And customize what you already offer. Would people like selections in the colors of the local sports teams, for example?
Survey your customers formally by means of mail, e-mail or phone calls. And have questionnaires for them to fill out at your checkout counter.
Also survey customers informally as they shop your store. Ask, “What merchandise or services can we offer to make your life easier?” The answers will be golden keys to business treasure.
Surveying your customers will “pull” valuable information from them. You can also “push” your employees to offer more. Does one of your key employees have special knowledge about a product of service? Have this person train others. Then promote this knowledge in the form of seminars or on-the-spot-education for your customers.
When it comes to responsiveness to the customer, the warehouse stores are slow moving. You be nimble. Exploit the holes in the competition’s marketing plan. Shop the big-box store to discover what merchandise and services they lack. Then promote those at your store.
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