In the midst of the department store doom and gloom, smaller stores can learn from their mistakes! Consumers are no longer willing to shop the way that they did 20 years ago, and they expect a completely different shopping experience. In the three ways that Sears neglected to move forward, smaller stores should take initiative and use them to create more profitability and better customer satisfaction. Also, just like with ships – smaller ones are able to change course faster!
1. First,
a digital presence is necessary. This means a mobile-friendly website and a
firm social media presence.
2. Second,
take up less brick and mortar space and move to a more online medium. Consumers
want to browse in-store, but also be able to shop from the comfort of their
home--allow them to do this.
3. Third,
create a connection with customers. While Sears was going to do this through a
membership program, it can also be done through more intimate contact on social
media and a more personalized touch with every interaction the company has with
a customer.
Observing the moves and mistakes of large retailers can help small retailers of all kinds to not just stay afloat, but grow and succeed. Branding is always an important part of growth for any company, so be sure to contact us for advice and options on your branded retail packaging.