How Small Shops Can Compete With Big Box Retailers for Holiday Sales
Forbes, November 21, 2012
It’s tough enough for small businesses to compete with big box retailers’ deep discounts and extensive product offerings. But now that Thanksgiving Day is no longer off limits at major players such as Target and Sears, Main Street retailers may be wondering if its time to close up shop for good.
Thanks to Shift Your Shopping and a number of other national and local initiatives aimed at raising consumer awareness to shop at independent retailers, those surveyed by national nonprofit Institute for Local Self-Reliance (ILSR) outperformed the industry, reporting an average increase in holiday sales of 6.7% in 2011. Overall holiday retail sales rose 4.1% in 2011, according to the National Retail Federation.
Beyond raising awareness, there are other ways independent retailers can boost their bottom line during the holiday selling season.
Diversify sales channels
“Create and update your portfolio of e-commerce channels so that your products reach the broadest audience possible. If you’re selling through your own online store, consider adding social selling on Facebook, or flash sales to your channels,” suggests Nate Gilmore, vice president of Shipwire Order Fulfillment.
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