EDITOR’S FORUM
Nail it Down: What Value Do You
Represent?
By Solomon Daniels Editor-in-Chief
No marketing strategy here; just a single principle you should memorize if you want to be a successful independent retailer.
Every time I pass that place, I remember that commercial ... you know, the one with that lady outside the doors at 5 a.m., the day after Thanksgiving, shouting “Open Open Open!” (Or maybe you don’t know; it was a Southern Cali- fornia thing.) The Mervyn’s department store chain has been closed for a few years now, yet the build- ing that once housed it in my neighborhood has stood vacant; in fact, it still retained the Meryvn’s signage, because I guess there was no point in paying someone to take it down until someone else secured the space. Well just recently, the signs came down and
fences went up around the structure and park- ing lot, and a new sign went up. Turns out the big “W” was coming to town, but in a smaller, “Express” version. See, the brass as Walmart want to compete at a different level, and in a new battleground: neighborhood grocery. You know what? It’s a great move for them.
They see a niche; a way to get into places they aren’t able to wedge their big stores into, wheth- er from opposition or infrastructure. But it’s also great for me, because the stores I typically go to will try that much harder to earn my business. Notice that I didn’t say I was worried for these stores. See, the grocery industry, like many others, has been through this already. They’ve dealt with the Super Kmarts and Tar- gets of the world and are still standing. I have no doubt this will continue. They are still standing because of one single principle, and it’s not exclusive them. If you’re reading this at KnowledgeFest, walk around and meet the retailers who have been successful despite everything going on around them, and you’ll see shops that follow the same principle. The idea is that they understand and live
by the definition of an independent. If you are at all concerned about the future of your busi- ness, write this down and put it in a place you can see every day:
6 Mobile Electronics August 2012 A successful independent is an entrepreneur
who, despite competition or economic condi- tions, focuses his or her efforts to create enough value in the customer’s mind so that they are willing to buy from them at the price and service level that supports the business. That’s it. That’s the guiding principle behind all of our businesses, and it’s what we do, day in and day out. It gives us an automatic roadmap of what to do when there’s more com- petition or more economic hardship: do what it takes to focus harder on creating that value. Smart independents don’t try to be every- thing to everybody. They try to have the most important things for the people who matter. Niche grocery stores that can’t compete with the large chains focus on ethnic or specialty foods. They have learned to take individual approaches to different groups of customers — even different individual customers — be- cause the next sale has nothing to do with what anyone else is doing. It has only to do with convincing that customer in front of you that what you have is of value to him or her. What is your niche? If you answer, “Our
service,” then you’d better be able to define it. One of the primary criteria for retailers in the Industry Awards is to outline policies and procedures that make up a predictable, repeat- able service model. It’s the same with skill, expertise, location, pricing, brands or anything else that you define as your niche. You and everyone in your store should know specifically how you excel in these areas, because if you don’t know, or if it’s not con- sistent, how can you explain it to a potential customer in a way that makes the customer see your value? If you’re in Dallas, head to each education
track with the definition of an independent in mind, then come out and determine how what you’ve learned helps you convey your value. If you’re not here, well, maybe you should be. ■
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