It’s important to be realistic about what makes your business unique and competitive, especially when it comes to competing with big companies for holiday spend. For SMBs, recognizing that your service and the products you sell are likely to be different -- and often of higher quality -- than big-box stores can be a great place to start in terms of crafting offers and discounts that appeal to your customer base. For example, a boutique denim store generally carries a very different selection from the local discount retailer.
Understanding that your customers come to you for high quality and good service, and that they prefer to shop in-store rather than to guess at their sizes online, is vital insight. Armed with this knowledge, a retailer should realize that there’s no need to compete with Amazon on price. Instead, they should focus on providing top-notch customer service, solid brand recommendations and local-friendly loyalty benefits that keep customers coming back.
SMBs sometimes find it tough to compete with big-box stores and e-tailers when it comes to garnering consumers’ holiday dollars. However, the good news is that technology has evolved to such an extent that SMBs actually have some distinct advantages. On the heels of Small Business Saturday, here are five tips, identified by Russell Harty, SVP of key accounts and partner channels at Merchant Warehouse, that SMBs can employ to ensure they capture as much money already being spent during the holidays as possible.