Competing in a Big-Box World
Description
In less than two decades, industry consolidation and rapid expansion have enabled big-box retailers to gobble up a tremendous amount of market share at the expense of small and mid-sized rivals. Furthermore, their ability to successfully cut margins to the bone through unmatched efficiency, sheer buying power and masterful execution has made it increasingly difficult for local and regional chains to compete on price alone.
Industry analysts and retail executives now agree that, although competitive prices are a must, “low price” as a leading strategy will no longer lead to long-term business success. To successfully compete in today’s environment, mid-sized retailers must carve out a niche based on creative strategies, including better and more localized product assortments, flawless price management and execution, and optimized inventory down to the store level.
This requires access to the same level and quality of information that their big-box rivals have—information that can be made possible only through sophisticated, but affordable, retail-centric systems working in concert through an integrated platform.
This white paper examines some of the most critical business drivers that are forcing mid-sized retailers to, in many cases, rethink how they position themselves. It also addresses four key technology-enabled strategies that can provide the sustained differentiation and market agility needed to succeed in today’s big-box retail environment...