The rumor is true. A new superstore is coming to your town and small business owners are worried. How will you compete with these big-box stores? While it’s reasonable to believe that challenging times may be ahead, it doesn’t have to be the beginning of the end. It could just be the beginning of a new normal. Here are five ways to differentiate your small business so you can better compete against bigger businesses and carve out your piece of the market.
One of the mistakes some small businesses make is attempting to compete with big-box stores based on price. Often bigger businesses have sophisticated supply chains that allow them to buy in large quantities with negotiated prices and delivery. It’s difficult to replicate that on a smaller scale. So what other alternatives are available?
Here are some options to consider:
Don’t panic when the new kid in town is a big-box store. Adjust to the new normal by concentrating on the things that make you unique – your service, your relationships with customers and your commitment to the local community.