For several years the retail trade is affected by the growth of big companies. In this post we want to emphasize the keys that could make the small business competitive against the franchises:
- The small companies are more agile. The retail trade don’t have long direction boards that often are an impediment for solving problems. The small business can take decisions effectively.
- Few resources used creatively. There is no room for waste, a productive small business gets its goals with lower costs of infrastructure and employees.
- Traveling with light baggage. SMEs have small teams allowing them to have greater resilience to face the changes of market.
- They are “nearby” business. The treatment with the client is more personalized than in big companies what helps to build loyalty and know-how about potential clients. The ties linking them with consumers are much stronger than those of the multinationals.
- Being small makes them effective. They have a very specific target which makes easier creating direct marketing campaigns focus on boosting their own customers or open new markets.
What make them weaker? Retail trade generally not considered essential investments aimed at the creation or consolidation of your brand. It is essential to stay on a competitive market, investing to attract new customers and keep the memory of those loyal. Not enough to be differentiated by product, customer demand something more, a shopping experience that can only be perceived when the company takes care about all the elements that are part of the business, from branding to its interior..
When you have a limited budget it is necessary to determine which of the actions are feasable for every company. A corporate image consultancy will report profits in business with a relatively small investment.
A small SME with a great corporate image can become a business able to compete with leader retail companies.