Monday, January 19, 2009

Rural retailers and business trends

by Cinda Baxter on January 19, 2009

in Business

small-town-usaThere are a lot of retailers outside of metropolitan areas, including many RetailSpeaks members. While there are overlaps in methodology and best practices between the in- and out-of-city storefronts, a number of unique factors come into play for those catering to rural (especially agricultural) communities. As someone who grew up as a farm kid in Nebraska, I can appreciate the value of information particular to that mindset and customer base.

Thanks to Karen Depp (New Orleans at Home) for bringing this great article to my attention. Even if your store is located in a major metro area, I suggest reading this through-—especially the part about Millennials. That, dear retailers, is a buzzword you should all be focussed on these days.

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register_receipt_croppedAt last-—good news.  According to a national survey by the Institute for Self Reliance, independent retailers out-performed chain stores in 4Q 2008. The linchpin that garnered success? Well organized Buy Local campaigns.

While I have yet to see an internet-based BL program that delivers in financial terms, I firmly believe that grass roots programs utilizing local media, partnerships (financial and marketing) with local Chambers of Commerce, and groups of neighborhood retailers pulling together as one are home runs the majority of the time.

A good example of this comes from The Healdsburg Retailers-—Retailer Excellence Award winners in the Marketing category last August. [click here to continue…]

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