8 Trends in Small Business Retailing

Small businesses dominate the retail business. While big companies such as Wal-Mart, Nordstrom’s, Best Buy, Bloomingdale’s, and others fill the business headlines; about ninety-five percent of retailers in the United States only have one-store outlets.

The face of retailing is changing, and no one is more affected by these changes than the small independent retailers. According to a new white paper entitled “Challenges of the Future: The Rebirth of Small Independent Retail in America,” small retailers face eight industry trends, some of which may benefit them while others may prove to be their disadvantage. In order to survive, they must be aware of these trends and plan accordingly how it can affect them or turn these trends to their advantage. The report, which was prepared by George H. Baum Community Charitable Trust, the Illinois Retail Merchants Association and NRF Foundation, offers strategies for the future survival and growth of independent retailers.

To learn the trends affecting the small independent retailers, read complete article