Defining and Delivering Retail Value
There's a lot of discussion these days about value. With everything under the sun these days, there's enormous pressure on retailers, and in turn on their suppliers. But for small and independent retailers, value may not be so clearly defined.
Value is one of those very subjective terms. Value means something different to just about everyone. that's why each consumer has their own distinct shopping and purchasing habits.
Value can be denominated in dollars, but it can also be denominated in quality, service, convenience and shopping experience. Yes, there is a renewed focus on price/value, but the other denominations of value are important. Successful retailers will understand precisely the value they offer their customers, and be sure that they are continually delivering adding even more value.