Tuesday 2 August 2011

The Gobstopper, sweet niche retailing

Full-time mum-of-two, Lisa Oakes, 37, opened a traditional sweet shop in Hale, Manchester on July 5th and is already inundated with eager young customers
Sweets in the shop are displayed in traditional glass jars and weighed out on vintage scales on top of a refurbished antique haberdashery counter.
Retro sweets are on offer including rhubarb and custards, sherbet lemons, cola cubes, liquorice, locally sourced chocolate and fudge
Slight personal disappointment at the apparent absence of bulls eyes, but still worth a visit..
Shopper engagement is revealed by the fingerprints and nose prints on the window where children have been taking an eager look inside!
All the ingredients for successful niche retailing, especially given plans to supply online .
All it needs is the application of some basic guidelines to make the idea scalable
In fact in an article called Niche Retailing: Uncovering New Retail Opportunities 
Frank Lucer suggests the following rules:
-       Catering To Customer Preferences
-       Going Deep Instead Of Going Wide
-       Leveraging Your Small Size
-       Learn from Amazon about leveraging the Long Tail
Small retailers can use this same strategy to attract customers and encourage sales. It is the essence of niche retailing. It can help independent shop owners cater to their customers' preferences and "go deep" into their product categories while leveraging their size.

As the level of competition rises in every sector, uncovering these new opportunities can make the difference between success and failure in unprecedented times.

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