Independent retailers certainly face retail issues. That is to say, in today’s world, independent retailers are facing challenges which no one talks about. Further, there have always been challenges for retailers in the past as well. But, the issues that retailers are facing today are different from the ones that they faced in the past.
Major Independent Retailers’ Challenges
A few of these major challenges include customer satisfaction. Certainly, this is one of the biggest retailer concerns today because today’s customer has become powerful. Powerful in the sense that it has become difficult to please and attract them. Further, competition is so strong that customers are more likely to shift to other brands in seconds. Moreover, customer satisfaction through technology is yet entire another entire topic that falls under independent retailers’ issues. Moreover, today’s customer is advanced. Secondly, technology is something that has great impact on today’s customer. So, one of the biggest challenges is to be advanced in terms of technology. For example, having effective inventory management system, modern and high tech POS System etc has become a must for retailers today.
Ways to overcome Independent Retailers’ Challenges
Below we have discussed some useful ways that independent retailers can adopt in order to overcome their challenges.
Independent Retailers need to maintain Service Quality
One of the most significant ways for independent retailers to overcome their challenges is to maintain quality of the service and products. That is to say, they need to make their unique identity by working on their quality. In fact this can be one of their biggest strengths. Moreover, independent retailers are mostly on their own so they can focus more on providing good quality service. In addition, they deal with the customers themselves on daily basis. Consequently, they are the ones who are directly involved in customer dealing because their business is mostly family based. Consequently, they are passionate about what they do. So, maintaining quality can become one of their strengths and will give huge support to them.
Independent Retailers need to be quick in decision making
Certainly, independent retailers are on their own. That is to say, they do not have to consult partners or are answerable to head offices. So, working independently, gives them an edge. That is to say, they have to decide things on their own. Consequently, they do not have to spend hours and days waiting for the others approval, suggestion or orders. So, this is counted as another major strength for independent retailers. That is to say, they need to have quickness and smartness of mind so they know what they are doing and that they do so in less time. In short, they should be smart and active enough to take wise and instant decisions regarding their business.
Independent retailers need to Provide Variety and be Creative
Because of their local business, independent retailers can cater to the needs and requirements of the community and area where their store is located. That is to say, they can easily get to know the customers and know their needs. Consequently, they can plan their products and services likewise. So, it is easier for independent retailers to provide variety of products to the customers and to be creative in their product range. As a result, this will attract more customers and strengthen the independent retailers because customers are certainly looking for variety and excellence.
To conclude, independent retailers are no different than others. That is to say, they can overcome the challenges that they face by adopting the above mentioned ways. If you are an independent retailer and have some more tips for others, do share them as we would like to know what challenges you are facing and what ways are you following to overcome the challenges.