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General Business Articles

Dealing With a Soon To Appear Big Box Retailer

Q:  My wife and I have owned and operated a craft store for the past 16 years.  We have just learned that Wal-Mart will be opening a super centre about six kilometers from us, and we are very worried about loosing out business.  What can we do?

 

A:  The key to competing against any of the big-box retailers is not to compete – at least not on their terms.  To survive and grow, you must differentiate your business.  The big-box retailers survive on volume, and to do this they have to give up personal customer care.  Thus, personal customer care is the business area that you should concentrate on.  This includes:

Offer a greater variety of merchandise.  This may take some creative purchasing, such as looking overseas for items, having items packaged to your specifications, or having items specially made for you.

Nothing beats knowledgeable sales staff, so invest in training the staff.  Also, offer services that the big-box retailers cannot, such as craft classes and/or an on-site kiln.  You may want to consider coffering delivery to the elderly and/or assisted living centers.

  • Develop an email/mailing list to keep your customers current.

  • Using a questionnaire, ask your customers what they like about your business, what they don’t like, and what they would like to see changed or added.  Then use this information to enhance your business.

  • Hold craft contests.

  • Post pictures of customers and the crafts they created.

  • Offer special orders.

  • Have a discount card for frequent buyers.

  • Give away “How To” pamphlets.

  • Be active in your community.  Donate ends of lines to local schools and assisted living centers.

  • Demonstrate crafts at schools, clubs, and assisted living centers.

Do not wait for Wal-Mart to open; now is the time to develop and implement new ideas and concepts.

 

 

 

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