4 Ways in Which Local Retailers Can Beat Amazon And Other Online Sellers
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Many local retailers are struggling to strive in the current
competitive market environment that has been flaunted by firms that have
adopted advanced technology. Local retailers suffer at the hands of companies
that sell their products through online means. Amazon is one of the most
significant online operational business that has threatened and brought
suffering to many small and independent retailers. Online sales of Amazon and
other online firms will increase at a high pace to almost double. This poses a
danger to local retail firms on how they can remain strong to face the
competition from a big company such as Amazon that depends on distribution
centers and a website.
Lowering of prices may not be the best solution for small
retailers to stay competitive in the market with online retailers like
Amazon.com and others. When the independent retailers reduce their prices to
compete with Amazon and other online retailers, it becomes another challenge to
deal with because customers will be expecting regular drops in prizes as well
as the continued supply of the products you sell. Small independent retailers
like any other business have a set profit margin that they have achieved for
the business to remain competitive and financially stable, hence cannot afford
to offer 20 or 30 percent discounts like Amazon.
There are better ways through which independent local
retailers can effectively compete with Amazon and other online operators. There
is, therefore, no need to go about the idea of pricing of their products. Below
are some tactics that small independent retailers can embrace to become
competitive in the highly demanding market environment;
1. Hire the right people-and offer killer customer service
The type of staff determines the type of people services
clients receive. Local retailers should consider hiring the right people to
help in their operations. People who have the excellent know-how on how to
carry out the activities of the business will be vital in offering superior customer
services. When small retailers hire the right people, there is a high
probability that customers will be happy by the services they receive since
they have been, taught and motivated to create magical experiences to customers
through communication. This will make the small retailers attain customer
loyalty and thrive by efficiently competing with Amazon and other companies
selling their products online.
2. Add value to their
customers' lives
Despite Amazon and other online retailers being better in
the creation of a more rewarding shopping experience; they are limited in their
abilities to do so. Local retailers can maximize on this opportunity to figure
out what they can offer to customers that online operators don't or cannot
offer. This type of service can add an advantage to them in that customers may
see local retailers to be of higher value than online dealers. The offer may be
exclusive products or gift wrapping. It may make the customers understand why
the prizes of the local small retailers are higher than those of Amazon online
shop.
3. Create a memorable and different in-store experience
The experience of a customer has always been an issue
determining the memory and perception towards a business. Local retailers
should toil to provide customers with a special experience that they cannot get
in other areas. By giving customers a unique experience, it will leave them
with good memories, and they are likely to come over and over again to these
small retailers to experience more.
4. Embrace technology
Local retailers need to embrace technology in their
operations for them to be competitive in the market. The use of technology
currently runs many businesses. By using technology, local retailers will be
able monitors their levels of customer satisfaction by reviewing customer
feedback. The small local retailers will, in turn, use this response to improve
in areas where the customers have raised concerns, suggestions and complain as
well. The discussed techniques are of great help in ensuring that local retailers
sustain themselves in the competitive market environment.
Co-founder Jeffery Hartman is a leading debt-loan advisory
firm for performing and non-performing assets. "When it comes to making
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Article Source: https://EzineArticles.com/expert/Jeffery_Hartman/2502463
Article Source: http://EzineArticles.com/9862666
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