Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za

Gathering momentum

Opinion John Stanley

Independent retailers should adapt to the changing marketplace to be stronger and more successful

In January I organised a gathering of leading independent retailers from ten countries in Paris, France. The objective was to develop a think tank where we could openly share ideas about the future of retailing at an independent level and how we could develop individual businesses.

Delegates came from Australasia, the Americas and Europe and were prepared for an open discussion on a range of opportunities that will evolve in the market place over the coming few years.

The subjects covered the opportunities of growth with the millennial consumer, sustainability, customer engagement, marketing concepts, new benchmarking techniques and social media – amongst many of the ideas.

The development of online retailing and the growing dominance of Amazon as a retailer were discussed and the opportunities this would provide the independent retailer.

It is inevitable that retailing is going to change dramatically over the next few years and that online shopping is part of the future mix. This also provides a threat and an opportunity for independent retailers.

It is exceptionally difficult to compete on a ‘level playing field’ with companies that are adopting the ‘Amazon’ model and independent retailers should not try to.

Consumers will continue to shop with local independent retailers that engage them and provide an experience and this was discussed in some depth by the participants.

BOPUS

You may not be aware of this term, but all agree it is a term we need to get used to and develop in our businesses. BOPUS is an abbreviation for, “Buy Online Pick Up In-store”.

The future independent retailer needs to consider the offer to the consumer and the offer that provides the best value to both the consumer and the retailer. Consumers will start their shopping experience online using their smart phone. They will place an order online. The casual food retail sector has already grasped the opportunity using BOPUS techniques.

At the same time we know that if we can get them in store and we engage them and provide an experience, they will remain loyal and our average sale will increase.

Put both these experiences together and you could have the winning formulae for moving forward.

Imagine the journey

The consumer sits at home and places an order with your business. You and they agree on a pick up time and they come to your store, this gives your team an opportunity to be ‘day makers’ with the consumer and engage with them on a one to one level. Knowing the customer they can also offer extra personalised ‘Add on’s’ and discuss what events are being organised in store they would be interested in.

Many pundits are suggesting that the number of small retailers in the market place will reduce by 25% by 2020. Those that remain will be stronger and more successful, they will have grasped the opportunities and understand the value of the smart phone on the customers journey.

By: John Stanley


    • View posts filed under:
    • News

Latest


29 Apr 2020
Pratley stands tall as a family-owned and managed business

The main advantage of being a family business is that it secures management’s direct and hands-on involvement. That and much…

Pratley stands tall as a family-owned and managed business

The main advantage of being a family business is that it secures management’s direct and hands-on involvement. That and much more is what made Pratley so successful over the past 72 years.   The fact that Pratley celebrates its 72 anniversary this year is largely due to it being a successful family-owned and…

17 Feb 2020
IQ Retail wins Supplier of the Year award

The annual DIY Industry Awards recently took place at Media Park and IQ Retail won the award for ‘Service Supplier…

IQ Retail wins Supplier of the Year award

The annual DIY Industry Awards recently took place at Media Park and IQ Retail won the award for ‘Service Supplier of the Year’. Dion Le Roux, channel manager and Tanya Butler, marketing manager for IQ Retail shows off the company’s achievement.

05 Feb 2020
Alcolin wood glue launches new innovative nozzle

Woodworkers can look forward to completing projects faster and with more ease thanks to Alcolin Wood Glues’ clever new nozzle…

Alcolin wood glue launches new innovative nozzle

Woodworkers can look forward to completing projects faster and with more ease thanks to Alcolin Wood Glues’ clever new nozzle and all-in-one system.

05 Feb 2020
Laduma Hardware Group eyes rural growth

Armed with a niche business strategy targeting rural and semi urban communities, Laduma Hardware (Laduma) expects significant growth in a…

Laduma Hardware Group eyes rural growth

Armed with a niche business strategy targeting rural and semi urban communities, Laduma Hardware (Laduma) expects significant growth in a number of their stores supplying hardware products to millions of South Africans wishing to build homes.


Top stories


17 Dec 2019
Ingco now offers power tools training to retailers

Skillcraft Agencies, distributors of the Ingco tool brand has opened a power tool training centre, helping sales staff acquire the necessary skills…

Ingco now offers power tools training to retailers

Skillcraft Agencies, distributors of the Ingco tool brand has opened a power tool training centre, helping sales staff acquire the necessary skills to better understand, market and sell the brand.  

05 Feb 2020
′Silent salesman′ simplifies paint colour tinting

Duram recently launched an innovative new Colour Tinting solution. Francois Swart, Duram sales director sat down for a Q&A to…

′Silent salesman′ simplifies paint colour tinting

Duram recently launched an innovative new Colour Tinting solution. Francois Swart, Duram sales director sat down for a Q&A to tell us more about it.

17 Dec 2019
Reaching high

Recent developments in forklift technology have resulted in cutting-edge reach trucks that are much smarter, offering an array of benefits…

Reaching high

Recent developments in forklift technology have resulted in cutting-edge reach trucks that are much smarter, offering an array of benefits to the end user.

17 Dec 2019
Now with added offering

The Mica brand has always been synonymous with DIY. Its trendy blue, yellow and orange has brightened up hardware store…

Now with added offering

The Mica brand has always been synonymous with DIY. Its trendy blue, yellow and orange has brightened up hardware store fronts across the country for the past 36 years. Although Mica has always played in the general DIY and paint market, it has now firmly stuck its foot in the…