Is there a future for small retail stores?

Ted Hurlbut has posted a thoughtful response to the question, "Is there a future for small retailing?" at Fresh Inc.

Focus, planning, decisiveness, execution, financial acumen, systems aptitude, employee empowerment, and moving forward. Don't let inertia keep your retail store from succeeding in 2006. Take steps now to change for the better.

Retailing Experience

BusinessWeek has an article that is an effective synopsis of where retailing is headed. Smart retailers try to make their store a destination, a place where people choose to spend time, learn, or have fun.

A noted success that we've noted here before is the reinvention of clothing retailer Topshop from cheap teen brand to high street style-leader, helped by the Oxford Circus flagship store, which boasts style advisers, nail and beauty bars, and lifestyle events.

Selfridges is another famous example of experience retailing with its themed promotions, celebrity appearances and displays featuring aspects of contemporary art, culture, and design. Liberty stores take a more traditional approach focused upon filling shelves with products that are original and hard to come by. That's a strategy that all stores should use.

Retail Success: Willmar MN

Here's an article about retailers succeeding downtown in little Willmar, MN. As always, finding a niche that avoids direct competition with the big box discounters is a key. One shop does a thriving business online. Retailing isn't rocket science, but its amazing how few retailers do it well. It sounds like Willmar has some well run stores.