Maintain that large base of shoppers
I heard on the news recently about the demise of Borders, and like many others who loved shopping there, wondered how such a great retail business could go under. My curiosity led me to an article by ghoffer for RetailingToday.com.
His explanation was that Borders, like so many other failed retailers, no longer had a sufficiently large enough base of shoppers to achieve an acceptable rate of return. Maintaining and growing that base is essential for survival. Also, retailers who prosper over a long period of time are those who recognize that even the most seemingly insignificant competitor can be a powerful adversary, especially if that competitor keeps up with current trends.
When a company is proactive in implementing change and experimentation, that company becomes the model for “survival of the fittest.” Waiting for change to be forced upon it by new competitors and deteriorating conditions, a company becomes vulnerable to the competitor who is forward-minded.
Is your business keeping up with competitors? At CCS, we can show you how to maintain that large base of shoppers with CounterPoint‘s CustomerConnect and CPMobile features. Call us today at 800-672-4806 or email us for more information.
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