The number of independent booksellers increased by almost 18% between 2010 and 2015. This happened as Borders closed its doors, and Barnes and Noble faltered. What happened?
Here are the six lessons for all independent retailers:
6. Offer attentive and knowledgeable service
5. Offer curated inventories tailored to local demographics
4. Remember customers’ names and use them in shopping interactions
3. Remember that most of your customers will be shopping as a leisure activity
2. Locate in pedestrian-oriented, street-front retail environments. (That’s where 48% of all millennials live)
1. Use your natural advantage over large stores: you are smaller, nimbler, and more-creative