Powerful Ways Retailers Can Remain Competitive in Tough Markets

Retailing has significantly changed since the Internet came into the picture. There are new challenges encountered but at the same time new opportunities are cropping up. Also, as more retailers compete for customers, there is an undeniable need to step up strategies and methods to remain competitive.

Business expo

photo credit: Wikimedia Commons

About.com’s “3 Ways to Thrive in a Retail Slowdown” offer great insights on how to remain competitive, but there are many other useful strategies you can use as discussed below:

Know and Understand Your Competition

It is essential to analyze the competition. Venturing into any business without knowing anything about the competitors is like entering a vast maze without a map or without having a bird’s eye view of the maze.…

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Modern Retail: Is Location Everything?

The retail industry has changed dramatically over the past 30 years. Stores are no longer gathered in downtown neighborhoods and rather than attracting people to the marketplace, out-of-town shopping malls must offer shopping possibilities and a broad range of eateries, from budget-oriented fast food to upmarket restaurants, as well as movie theaters and fitness centers. More recently, the future of these malls has been threatened, as an increasing number of consumers find it more convenient to shop online.

Berlin mall

What is the future for brick and mortar stores?

The death knell for actual physical stores, or ‘brick and mortar stores,’ has supposedly been sounded for many years now.…

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Five Trendsetting Retail Markets to Watch Out For

Emerging markets are difficult to contain, especially in a retail sphere where everyone is warmly welcomed. But, not all adventure-seekers are created equal. There are those that will stand out from the rest and will struggle before disappearing before the public’s eyes. And, it’s a bloodbath out there.

Zara

The retail industry has experienced tectonic shifts within the last 10 years. Those who survived paid a good price, but are now enjoying success after success. Leaders equipped and empowered their workforce with retail resources and trainings to keep up with the competition.

This year, retailers are looking at market trends that will predominantly dictate the pace of the game.…

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Exclusive Q&A with Yohan Jacob, Retailbound CEO

Launching a retail product is always challenging for some reasons: A saturated market, a tough competition, copyright infringement, price wars and some other factors. Due to those challenges, retailing success is often obscure. The good news – that should not always be the case.

sweets

Success in retailing is determined by how well your product can attract your target market’s attention. As you can’t afford to do too many trial-and-errors, you need to increase the chance for success. One of the ways which can help you with that is through retail marketing consulting.

If you are thinking about launching your own line of products and jump into the retailing market but not sure whether you will find success or not, you are right on time; today, we have this rare opportunity to have a Q&A session with Yohan Jacob, the CEO of a unique retail consultant – the Chicago-based Retailbound.…

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