Small Retailers

The good news for small retailers is this: the big companies will actually do very few, if any, of these things. The strength of will is not there. Lower and mid-level managers will avoid risk-taking. At higher levels, with shareholders and analysts watching, the willingness to forgo profits in favor of market share will not materialize. Short-term results are the order of the day.
This strategy that must be implemented from the top down, so that risks can be taken at all levels. As such, it is ideal for smaller retailers with strong involvement by management. Analyze your distinctive competence. What is your competitive advantage relative to the "big guns"? Cost? Location? Product lines? Service? Emphasize them. Take heart – you will thrive.

Summary: Conceptually, the strategy is "Retailing Reaganomics" – outspend the competition when they are fearful and contracting. Much of the cost of execution is in "soft costs". Actual cash outlay is small.

A window exists now which will last for at least another year. But the strategy must be executed soon. The correct st