Small retail business model
Times of transformation create opportunities. Retailers must adapt business models and integrate local, personalized services with online convenience. With these opportunities come new roles for the storefront that will redefine its social attractiveness.
The value of the local store for physical goods is continually evolving, driven by changes in distribution infrastructures. Recently, we have witnessed a shift in retail from physical to experiential, where the currency of value is the experience. However, we are only at the beginning of an economy driven by virtual goods. For example, while eBook market share is rapidly rising, Kindle eBooks only account for around 1% of total print sales. Virtual goods still need to fulfill the sales funnel from discovery and comparison to purchase and, later on, rediscovery.
The retail model as it should be in the future
Staying in Touch
Products and services increasingly exist within a cloud of information, continuously and dynamically linked to virtual brochure sites maintained by sellers, journalist reviews, consumer ratings, social commentary, and aggregated usage statistics. This cloud can be accessed any time in any place through multiple channels. While retailers traditionally see online and store marketing as competing businesses, customers ultimately care about convenience and perceived value - not the channel through which they are served.
As the "goods" we transact change, so do our purchasing behaviors. What was once a simple transactional process becomes a complex web of value shifts across several customer touchpoints. Now, brands must manage multiple revenue streams, where the retail space may not be primarily devoted to income. Following this trend, wireless service providers such as Verizon have transformed their retail environments into places primarily for customer service, not monetary transaction.
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Wal-mart has it's place, but hurts smaller co's
I can appreciate people who like Wal-mart. I found personally that I spent more when shopping there because you're in a department store with a big grocery shopping cart, so it certainly didn't save me any money!
I own a small business and the big box store model worries me, because it tends to drive small businesses out of business and lower wages. There's a big difference between having the ability to start a small business and making a living doing that, and working at a large retail chain. I wonder if the Wal-mart (and other large discount retailers) make it so people can only afford to shop at their stores, so are self-perpetuating
Pretty normal in retail
Step back a minute from the art world. When you get right down to it, a gallery is just a retail store.
The 2X markup is the norm for independent retailers.
Out of their share, the retailer must pay rent, utilities, insurance, salaries, taxes, business licenses, furnishings, signs, computers, accountants fees, etc.
As far as the artist (the "product manufacturer") contributing to promotional expenses, that's normal in retail as well. When you see a small retailer running big ads for a product, you can bet they are getting an "advertising allowance" from the manufacturer
I guess you've never found a company
On their website? No, it's retarded to think that a company like Directv will list every conceivable item for their company on the website. Instead, they list only the standard items that most of their clients will use. It's a business model that recognizes that there are items that might be needed by only a very small percentage of its customers, and only on an as-needed basis when determined by its staff.
I suppose you've never been to a retail or restaurant website that had items the company didn't list on its website but that were available through other means. I just saw an article about 100 food options at popular restuarants that you won't find on their menus (online or in person).
You are chasing your tail with those
You an 'opportunity' here.
Small business. Go with what you know. Industrial supply. Need to be local/regional before global. Build a lean, low-overhead working model and grow it.
On the retail end of it, big boxes have the distribution edge. But, as a contractor, I go to the local supply houses as often as possible for breadth stock, personal service and trade tips and expertise.
Have you thought of maybe buying (with much research) an existing entity and salvaging or growing it?
Small thoughts, but thoughts nonetheless.
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