Quality versus Price – the Art of Growing Business

Big Box or independent? Does it have to be one or the other? Alan J. Katz, The Loyalty Coach, points out that small stores are redefining themselves and this redefinition is beginning to take its toll on Wal-Mart. I reviewed his newsletter on the subject at the AIBA (Albuquerque Independent Business Alliance) forum.

I'd offer the following points as thought-starters for any retail business considering how to more effectively service clientele. The six pieces (with a second tip of the hat to Alan J. Katz) that any retailer can make their own include better selection, freshness, choices, personalized service, convenience and information.

Better selection

• Brands that the box stores don’t carry
• Local/regional brands

Freshness

• Local produce or local growers
• Fresh, new displays
• Frequent display changes

Choices

• Customer requests honored
• Expand the fringes of a line

Personalized service

• Calling customers by name
• Personalized emails and private sales
• Friendly, helpful and knowledgeable salespeople

Convenience

• Super serve the immediate trade area
• Make it easy for customers to do business with you

Information

• Customized seminars for prospects
• Develop and distribute ezines, “how-tos” and other info items