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All for One
Listed under: Retail Clinic
Published: Friday, June 27, 2008
Can independent retailers break the chains? Only if they work together argues Becks Fagg of Design Objectives
The phrase 'two heads are better than one' extends beyond the traditional brainstorming for creativity. As a craft retailer in a challenging trade climate, adopting an outward focus can help weather the uncertain storm of consumer spend.
A case in point is the US trend of ‘Shop Hops’.
The theory is that a retailer identifies its competitors which are geographically close, and they team up to promote a multi-day event where they navigate consumers from shop to shop – hosting demonstrations, workshops and giveaways. Invitations also go out to complementary local businesses (including restaurants, etc.) to offer the influx of consumer traffic special deals to eat local. Coupons and vouchers are a huge incentive for hungry shoppers.
It has proven successful for participating retailers, bucking the trend of NOT working cooperatively with competing retailers. The reasoning behind its effectiveness is that pooling resources creates a much more exciting and attractive proposition for the consumer. By creating a reason to leave cyber shopping behind, bricks and mortar offers a personal 'hands on' experience that brings people together (which social crafters are naturally drawn to) and allows crafters to flavour a collective library of product and inspiration.
Whilst the practice of this case study may be unrealistic in a craftstore-scarce UK – the theory of creating business links with your competitors, as well as complementary businesses, is still relevant and applicable.
Looking at ways to induce a shopper to pay a visit can include looking at the surrounding shops and starting a conversation about cross-market offers. If the bakery can offer a five percent discount exclusively to your customers – and you can offer something in return – you end up sharing consumers (and making their one quick pitstop into a positive shopping experience.)
The consumer mindset is to try and consolidate the task of shopping, which is why supermarkets and the internet are so popular. The ‘all under one roof’ mentality can be replicated by adopting a creative approach to your competitors.
Another example of thinking outside the norm is to find a competitor who stocks alternative product which complements your own product mix. When a customer comes with a specific requirement, they need not leave frustrated as you can pass a recommendation (and win the customer’s trust) or even work out a way to shift stock (depending on how great a business link you forge!)
Other business links can include joint advertising, shared offers/deals, coupons, website link share and printed maps locating other independent craft retailers in the area (which the group of stores all share and give free to customers.)
There really are financial benefits for the savvy and creative retailer who realises that two, three...even four business heads are always better than one.
A case in point is the US trend of ‘Shop Hops’.
The theory is that a retailer identifies its competitors which are geographically close, and they team up to promote a multi-day event where they navigate consumers from shop to shop – hosting demonstrations, workshops and giveaways. Invitations also go out to complementary local businesses (including restaurants, etc.) to offer the influx of consumer traffic special deals to eat local. Coupons and vouchers are a huge incentive for hungry shoppers.
It has proven successful for participating retailers, bucking the trend of NOT working cooperatively with competing retailers. The reasoning behind its effectiveness is that pooling resources creates a much more exciting and attractive proposition for the consumer. By creating a reason to leave cyber shopping behind, bricks and mortar offers a personal 'hands on' experience that brings people together (which social crafters are naturally drawn to) and allows crafters to flavour a collective library of product and inspiration.
Whilst the practice of this case study may be unrealistic in a craftstore-scarce UK – the theory of creating business links with your competitors, as well as complementary businesses, is still relevant and applicable.
Looking at ways to induce a shopper to pay a visit can include looking at the surrounding shops and starting a conversation about cross-market offers. If the bakery can offer a five percent discount exclusively to your customers – and you can offer something in return – you end up sharing consumers (and making their one quick pitstop into a positive shopping experience.)
The consumer mindset is to try and consolidate the task of shopping, which is why supermarkets and the internet are so popular. The ‘all under one roof’ mentality can be replicated by adopting a creative approach to your competitors.
Another example of thinking outside the norm is to find a competitor who stocks alternative product which complements your own product mix. When a customer comes with a specific requirement, they need not leave frustrated as you can pass a recommendation (and win the customer’s trust) or even work out a way to shift stock (depending on how great a business link you forge!)
Other business links can include joint advertising, shared offers/deals, coupons, website link share and printed maps locating other independent craft retailers in the area (which the group of stores all share and give free to customers.)
There really are financial benefits for the savvy and creative retailer who realises that two, three...even four business heads are always better than one.
