Reasons for survival or small scale retailers. - SS1 Commerce Lesson Note
- · Personalized Customer Service: Small-scale retailers often excel in providing personalized customer service. They can build personal relationships with their customers, understand their preferences, and offer tailored recommendations.
- · Localized Expertise: Small-scale retailers tend to have in-depth knowledge of their local market and community. They understand the unique needs and preferences of their customers, allowing them to curate product offerings that cater specifically to the local demand.
- · Flexibility and Adaptability: Small retailers are often more agile and can quickly respond to market changes and trends. This flexibility allows them to stay relevant and meet evolving customer demands.
- · Niche Markets and Specialization: Small-scale retailers often thrive by focusing on niche markets and specialized products. By targeting specific needs and interests, they can differentiate themselves and attract a loyal customer base.
- · Community Support and Trust: Small retailers often enjoy strong community support and trust. Customers appreciate the personalized service, local connections, and the positive impact of supporting local businesses, which helps small-scale retailers sustain their operations.
- · Competitive Pricing: While small-scale retailers may not always compete on price with larger retailers due to economies of scale, they can still offer competitive pricing by leveraging their relationships with local suppliers, reducing overhead costs, and focusing on cost-effective marketing strategies.