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Your pricing on highly shopped "price sensitive" merchandise
should be no more than 10% higher than the same item from a mass
merchandiser. Less competitive items can be priced for better profits.
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Cut back or eliminate merchandise where the giants have the
competitive advantage.
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Display prices so they are easy to read.
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Consider advertising an offer to
match competitors pricing.
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Modernize your returns and refunds policy. How do your national
competitors handle this area?
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Extend hours of operation.
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Search out voids in the mass merchandiser’s inventory and services
then fill these voids.
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Offer clinics, workshops and classes.
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Advertise your technical
expertise.
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Advertise in-store
repairs.
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Advertise installation, design, delivery and pick-up.
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Create new and additional useful services your customers will need.
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Improve your advertising.
Advertise with a "campaign" that
builds strong brand identification.
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Join a buying
cooperative, if possible, to maintain competitive
pricing, and reasonable profits.
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Develop an efficient special orders capability.
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Find out how you can tap in to your retail giant’s
traffic and
attract them to your store.
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Demonstrate and teach your employees
good customer relations. Your
example is very important here!
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Improve store lighting.
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Improve store signage.
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Don’t try to "out Wal-Mart" Wal-Mart. OUT-SERVICE
Wal-Mart!
