Place

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A few years back we drove down South. Along the way we visited Cherokee, Gatlinburg, Chattanooga, Montgomery, New Orleans, Biloxi, Atlanta, and my parents'. Chattanooga has a neat-o inclined railway. So did Beacon, New York.

Beacon's renaissance sounds like a CoolTown.

3:07:50 PM # Google It!
categories: Place

Retail Hypothesis

I have a hypothesis.

Enclosed malls beat strip malls because they are more convenient. The shopper is able to move freely between stores, exploring options and making numerous purchases, before returning to his wagon and carting the goods home. They beat downtown shops because they are closer to the shopper and parking is free.

Wal-Mart beats downtown shops and stores in strip malls — and eats into the revenue of enclosed malls — because it is more convenient. The store has a wide selection of a wide variety of goods. It is closer to the shopper, parking is free, and the customer only has to pay once.

So, how do you beat Wal-Mart?

You can't beat them on prices, because you don't have leverage. You can contend on design and quality, all other things being equal. You differentiate yourself.

More generically, how do you compete against huge retailers? You have to be more convenient.

• Move closer to the customer.
• Make parking a non-issue.
• Simplify payment.
• Eliminate the need for another trip.

10:37:11 AM # Google It!
categories: Place