Guerrilla Retailing: Nine Ways to Beat the Big Boxes
Goodbye 2010. It's now time to look ahead and figure out how to take advantage of the new opportunities that 2011 will present. The glory days we saw before 2008 certainly won't return anytime soon (if ever), but there are some trends that can help savvy dealers improve sales and profits over last year. Here are a few:
• Competition will remain tough. Two major suppliers are in a war for market share, while Best Buy, Walmart and Amazon are all trying everything they can to get consumers to buy electronics from them. Prices and margins in appliances have sunk to all-time lows. But the independent dealers caught in the middle can compete by offering more and better services, such as providing the home theater experience instead of just a flat-screen TV or a complete kitchen design instead of a single refrigerator. They can also merchandise up from the derivative models that box stores use to drive traffic.
• Event promotion will continue to drive traffic. Follow the lead set in the marketplace and be ready for big sales over holiday weekends like President's Day, Memorial Day, Fourth of July and Labor Day. Shoppers will be out hunting for bargains and traffic will be strong. Pent-up demand will create opportunities for step-up and additional sales.