4 Indisputable Signs Little Local Retail Is Becoming A Goliath
Local retailers are not going the way of the dinosaur.
The biggest competitor on the retail horizon is more likely to be called David than Big Department Store, and he’s got a slingshot full of technology to help him stand his ground.
As major brands from Macy’s to Foot Locker wrestle with competition from Amazon, small independent merchants are gaining a foothold on the retail landscape. More than half (54%) of U.S. sales are generated by small businesses, according to the Small Business Association, and that figure could likely rise.
Why? Technology has much to do with the small retailer’s ability to level the selling field, but other surfacing forces, including those influenced by age, are providing the velocity.
With July being Independent Retailer Month, the time is ripe to explore how small independents are reclaiming their status as a major competitive force, and as crucial components of a thriving community. Following are four ways the little local guy is emerging as a giant in retail.