Big Picture: Prevent a Recession, Empower the Store Manager
Independent retailers can also take advantage of the string of bankruptcies and restructurings of national retailers, many of which are located in malls and shopping centers that are losing traffic. Those retailers should continue to position themselves as the alternative to the big-box stores, a place where consumers can find more experienced and trusted sales people, key products that target particular demographics, better services, special deals and, perhaps, more flexible financing.
Retailers must continue (or begin) to realistically analyze local and regional numbers, and no longer rely on shop-worn definitions or rosy outlooks. Realistic data on local and regional levels are the best economic indicators.