The Entrepreneur Opportunity
One of the reasons that entrepreneurs and innovative ideas are born during recessionary periods is that the recession itself reflects a certain staleness in the economy, a lack of compelling innovation. The weak will go out of business, but as the strong gain more strength they frequently become the captive of their success.
This certainly feels like the case in retail today. There are few innovative retailers whose concepts and presentations are so compelling that they are able to get their price, avoid the spiral of endless price competition, and see their businesses grow.
Out of this recessionary period there are likely to emerge many new, successful retail ventures, but what may be different this time is that they will be smaller, more narrowly focused, niche-driven players capitalizing on an increasingly fragmented marketplace.