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4 Ways Small Retailers Can Compete Online With The Big Boys

4 Ways Small Retailers Can Compete Online With The Big Boys

Small and medium stores have been struggling to catch up with the changes in retail. The spread of the big-box chains and the chipping away of market share by online retailers have changed the retail landscape. In recent years, the technology changes have been working against the smaller stores. Big-box retailers were able to develop technology and infrastructure with dedicated teams.

Employing an army of engineers and data scientists is beyond the reach of most retailers except for a few big ones. But the ongoing changes and the emergence of many new companies in the area make connected commerce and omnichannel retail withing the reach for every retail store. Taking advantage of these new technologies will be critical to the success of every store. The good news is that everyone is in the game now, not just the big boys.

Let us check a few ways you can harness the power of omnichannel and connected commerce to insure the success of your store.

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1. Get your inventory online

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    A major factor working against smaller stores is consumers being concerned about inventory availability. Whilst consumers know that the item they are looking for is possibly available in a nearby store, they may avoid taking chances and drive further to a bigger store where they are sure that the item will be there. This uncertainty factor offsets the proximity advantage stores have over the customers in the neighborhood.

    Having the inventory online and searchable via mobile and desktop removes this uncertainty. An informed customer will be willing to drive to the smaller store nearby rather than to the supermarket many miles away. Now the store may get online visibility through paid results in Google shopping or by subscribing to Mantele. Making your inventory visible might be the best marketing step for your store.

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    2. Focus on Online visibility than on physical location

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      Traditionally, it is important to have a physical store which attracts eye-balls. Recently, the importance of the store’s physical location has been replaced by its online presence. Even if you are in a location without a lot of foot traffic, customers will find you online.

      Search engine ranking and social media presence will be way cheaper than leasing prime space for your store. You may be able to reduce rental costs significantly and get more consumers by diverting a fraction of your rent to online marketing.

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      3. Provide a seamless shopping experience

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        Selling online remains hard and time-consuming for smaller stores. Consumers who buy online mostly will stick to larger retailers like Amazon due to habits and trust. Attracting local consumers online and providing them a seamless experience for buying in-store is the key to leveraging your physical proximity. Not only should the customers be able to find your items online, they should also be able to locate the item in your store, and buy it in an effortless manner.

        Home Depot and Target showing in-store maps to the item are good examples of such experiences. Increasingly, these technologies are available to smaller stores. Many start-ups like Curbside, Mantele and Google shopping avail the same technology to smaller stores which is only available for big-box retailers now.

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        4. Use discounts judiciously

        A marketing channel for easy local visibility for stores now are daily deal sites like Groupon and Living Social. Retailers can reach out to local customers through these daily deal sites with no marketing effort.

        But these coupons are often expensive to business, with stores losing a major part of their revenue. With the advent of local search, customer visibility can be achieved by being present in inventory searches described above. More importantly, these marketing channels are more persistent unlike the short term discounted promotions.

        The advent of retail technology has provided options for local stores to succeed more than any other time in the recent past. If you are ready to adapt and embrace this change you will see increasing customer numbers and revenues.

        Featured photo credit: www.horizon-retailers.com via horizon-retailers.com

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        Last Updated on November 5, 2018

        20 Best Places to Work for a Great Career in 2018

        20 Best Places to Work for a Great Career in 2018

        Looking for a job? There’s no doubt to the fact you will want to work with a company that appreciates you for who you are.

        Well, good news. The labor market today is one that has peened up with more opportunities for advancement and personal employee improvement. This is partly due to the fact that a lot of companies have been made to understand the value of their biggest assets: the employees.

        To wit, here’s a list of companies- across a wide array of industries- that have been able to develop working environments that are healthy and accommodating to workers.

        Take a look at these 20 best place to work for a great career:

        1. Salesforce, San Francisco, California,

          Salesforce is in the information technology business and the company ranks highest due to their commitment to learning and innovation. They are ready to try new things and everyone with a new idea is always welcome to share it at the company. The company has also been known to exhibit an exceptional approach to alignment.

          Find out more about careers in Salesforce

          2. Wegmans Food Markets Inc.,Rochester, New York

            Based in Rochester, New York, employees have been known to enjoy a sense of purpose from working here. The company has been able to achieve an optimal level of engagement across all working tiers and they’ve been able to achieve great things together. They even do deliveries.

            Find out more about careers in Wegmans

            3. Ultimate Software, Weston, Florida

              Employees get amazing benefits here but that’s not the only reason why this place is so awesome to work. Whenever there is a need or a death of an Ultipeep or any of other family members, the company shows love and support like no other.

              Find out more about careers in Ultimate Software

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              4.The Boston Consulting Group, Inc., Boston, Massachusetts

                Development is at the center of anything that goes on here. The business is about people and employees are the company’s biggest asset. Employees are able to challenge the status and also leave impacts on clients.

                Find out more about careers in The Boston Consulting Group

                5. Edward Jones, St. Louis, Missouri

                  Edward Jones is admired for their ability to acknowledge history without being mired down by it. The company builds on a solid foundation but there is also a level of flexibility that allows for innovation.

                  Find out more about careers in Edward Jones

                  6. Kimpton Hotels and Restaurants, San Francisco, California

                    Kimpton is a trendsetter in the hospitality industry. The company always strives to try something different and that perspective is welcomed there at all times. Enjoy the weekends with luxury rooms, conformable mattress, furnished and well dressed service staff. A great opportunity for job seekers.

                    Find out more about careers in Kimpton Hotels and Restaurants

                    7. Workday, Pleasanton, California

                      Newbies will find no issues with feeling welcome and at home here as this has always been a core culture component of the IT giant. Everyone is treated like family and this fosters a sense of oneness.

                      Find out more about careers in Workday

                      8. Genentech, South San Francisco, California

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                        Here, employees are encouraged to be themselves. There is a feeling of care, safety, and acceptance that you get here that you can’t get at many firms. The development of an all-inclusive environment has always been foundational.

                        Find out more about careers in Genetech

                        9. Deloitte, New York, New York

                          Deloitte is one of the biggest professional service providers in the world, noted for their focus on constant learning, development and improvement. They invest in their employees and are concerned about their well being.

                          Find out more about careers in Deloitte

                          10. Baird, Milwaukee, Wisconsin

                            Baird is a financial services provide that is known for adopting a “no asshole policy’ which guides the way people relate with and respect each other, regardless of their position on the company’s hierarchy.

                            Find out more about careers in Baird

                            11. Quicken Loans, Detroit, Michigan

                              At Quicken Loans, the views and opinions of everyone are respected and heard. The organization is revered for the amount of investment they put in their team members and everyone looks for ways to grow and be better.

                              Find out more about careers in Quicken Loans

                              12. Capital One, Mclean, Florida

                                Capital One has adopted a culture that encourages employees to take risks and try new things. They foster a healthy work-life balance and associates are challenged to live better lives.

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                                Find out more about careers in Capital One

                                13. Cooley LLP, Palo Alto, California

                                  Cooley LLP is a law firm known for their ability to care about the company culture and being able to develop a working environment that is empowering and fun. Cooley is known to go for the best when it comes to their employees, regardless of the occasion.

                                  Find out more about careers in Cooley LLP

                                  14. Southern Ohio Medical Center, Portsmouth, Ohio

                                    The medical center has been known for their propensity to delegate so much to their employees, thereby providing them with the ability to grow and learn on the job. In the end, you get a workplace that is all-engaging and super fun.

                                    Find out more about careers in Southern Ohio Medical Center

                                    15. American Express, New York, New York

                                      American Express is a firm that celebrates wins, no matter how small. Everyone is made to share the same attitude towards service and the people they are to serve, thereby making people care about what they do.

                                      Find out more about careers in American Express

                                      16. Adobe Systems Inc., San Jose, California

                                        The culture at Adobe Systems is one that encourages employees to develop their own ideas and get a strong viewpoint. As opposed to encouraging competition, work-life balance is fostered everywhere here.

                                        Find out more about careers in Adobe Systems Inc.

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                                        17. The Cheesecake Factory Inc., Calabasas, California

                                          The Cheesecake Factory rewards dedication and hard work. Promotions come pretty easy, and there is always space for guidance to develop your experience and skills.

                                          Find out more about careers in The Cheesecake Factory Inc.

                                          18. Sap America, Newtown Square, Pennsylvania

                                            If you’re looking for a new career path, SAP might be the best bet for you. The company is adept at recognizing value and transferable skills. And you can always look for a new path while maintaining your employment.

                                            Find out more about careers in Sap America

                                            19. NVIDIA Corporation, Santa Clara, California

                                              NVIDIA is known for looking after even the smallest of things. With even a “pets allowed” policy this company accepts you for who you are, and helps you to work within your personality. Advancement is also fostered, and you are able to collaborate effectively.

                                              Find out more about careers in NVIDIA

                                              20. KPMG LLP, New York, New York

                                                Communication and progressive collaboration are the foundation of this company’s workforce treatment. Regardless of the level you are, someone is always at the ready to help and the company rewards extra effort with gratitude.

                                                Find out more about careers in KPMG LLP

                                                All in all, it’s safe to say that you will be able to find somewhere to apply your skills (whatever they are) that is all inclusive and highly accommodative. Companies today are being made to understand how much they can get when they treat their employees right and this has opened the door to an encouraging work environment for all.

                                                Happy job hunting!

                                                Featured photo credit: Pexels via pexels.com

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