Shrinking Your Store – Some Considerations for Retail Downsizing (or ‘Rightsizing’)
The impacts of online shopping are not news to the retail industry. Over the last few years, many stores have had to make significant overall changes brought on by web-savvy shoppers and their hunt for the best deal with just the click of a button. Retail downsizing, or rightsizing as we like to call it, has become a much more normal occurrence, especially for smaller bricks and mortar locations looking to stay relevant and deal with the onslaught of online competition.
Check out this recent release from Bloomberg Businessweek – “The Smart Way to Shrink Your Retail Store” – http://www.businessweek.com/articles/2014-05-09/the-smart-way-to-shrink-your-retail-store. In it, the author references the recent trend of retail downsizing: “Retail space isn’t what it used to be. More people are browsing and buying online. Stores can get products faster from manufacturers, so they don’t need as much space to warehouse inventory. Small businesses are thus moving to smaller storefronts to lower costs.” And the main piece of advice offer: have a plan!
Even in the CPG industry, where the competition is a bit less stifling, there has still been a push to deal with those big box franchises. And yes, retail downsizing has made its way here too. So, if changes in the online marketplace have necessitated a change in location, or rather a rightsizing of your current location, the best thing to do is develop a plan to ensure that the impact this transition has is as positive as possible.
How? Enlist the services of a company that can help you carry out this change without a hitch – one with the knowledge and experience to conduct a shift seamlessly, as well as the additional people support to maintain high levels of customer service during the move and avoid any pitfalls along the way.
For more about conducting a retail downsizing that won’t have any adverse effects, please contact Marketsupport today by calling 1-877-421-5081.« Back to Blog