Make Your Store an Out-of-Box Experience
Minnesota: Home of the world’s largest shopping mall. You’d think, after reading all the stories about how Mall of America and Wal-Mart are pushing out all the mom-and-pops, that small retailers are on the endangered-species list.
Not so, according this article in the Minneapolis Star Tribune. It points out that a Purdue University study revealed “having a large retailer nearby encourages small business development.” And it gives several examples of how several small retailers in Minnesota have come to think of themselves as extensions of their big-box neighbors.
Makes sense to me. Like pilot fish trailing a whale shark (thanks, Discovery Channel), small retailers can pick up sales the big stores can’t navigate. Take educational supplies, for example. I know the big-box stores carry some of them. But I visited an educational-supply store in Long Beach, California, that puts any Wal-Mart or Costco to shame. The owner told me that many of his clients buy the basics–like backpacks and pencils–at a nearby Staples. But they swing by his store for the harder-to-find items like reading drills, math games and educational toys.
Customers might like the overwhelming selection a Wal-Mart provides. But have you ever heard one say how much she liked the service? Your small store should have two advantages that keep customers coming back: specialized selection and great service. Make those among your top priorities, and you’ll have little to fear when the big-box stores try to muscle in on your ‘hood.


Jeff Grant's Retail Blog
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