Independents' Day

Niche marketing is far more than just catering to an upscale audience. Key to niche marketing is finding a sustainable competitive advantage: this way others are not able to replicate your business advantage as easily. Problem is, too many believe their niche is "low price." There is no way this is a sustainable competitive advantage -- even Wal-Mart knows this. To be successful, it's imperative the niche is unique and of value to the customer base attracted by the niche.

Mark Hunter, President, TheSalesHunter.com

It's MUCH broader than just "upscale"! While all of us like to believe that the ideal customers are those with higher than average incomes -- let's remember the strength and power of the shoppers who have made Wal-Mart #1 and Dollar Stores a viable category.

It's NOT about price -- look at what's going on in fast food. McDonald's and Burger King are killing each other off with 99 cent menus.

It's about understanding consumer needs and satisfying them - whether they want to buy a can of peas or a wedding cake. The supermarkets who want to build a relationship with their shoppers are the ones who will succeed. Perhaps it's because of the fear of being swallowed up -- or having a closer touch-point -- I find that independent operators who "work" their stores are best positioned for success.

'PhilLempert'

I don't think it's a secret that the people who own small businesses are either completely potty or passionate about what they do. This applies to supermarkets as much as any other type of business. It is conveying their passion to employees and customers alike which creates their niche and convinces people that what they will get is extremely high quality, reliable, valuable products and service. Customers don't necessarily have to be upscale, they simply have to be appreciative. The more they appreciate what's on offer, the more the proprietors' passion will be encouraged and the more merrily the virtuous circle will continue to rotate.

Bernice Hurst, Contributing Editor, RetailWire

There is a "value" perceived by customers when the store owner is present showing attention to them and their shopping desires, and then goes about satisfying their preferences. That is psychic income and compensates for many things such as higher price. Everyone wants to feel special and the independent retailer through human presence can accomplish that - providing he/she works her store regularly - better than process-oriented chains. The independent retailer can thank goodness there aren't 10,000 Sam Waltons alive with each one personally working daily in a Wal-Mart store.

Gene Hoffman, President/CEO, Corporate Strategies International

We are talking about "nostalgia". We say small independent retailers are successful and will continue to grow but a few days ago we were saying that independents will lose against big retail giants. In fact it is not black and white but also we have to see the gray. Retailing is a human-related business and whichever format you choose to serve, success lies behind the customer needs.

Veysel Hasanhocaoglu, Category Manager, Tesco Kipa