FRONT LINES

{DECEMBER 2015}
The Hot List

Info Bites to Fuel Your Business

1
SMALL BUSINESS VS. SMALL BUSINESS

Credit: Kenneth Sponsler / Shutterstock.com

Much is made of the threat that big-box and e-commerce retailers pose to Main Street businesses, but it’s not the biggest worry of shop owners. What is? The threat next door.

According to a survey of more than 800 small business owners by ShopKeep, 71% consider their main competitors to be other local businesses.

Other concerns cited by small business owners include changing EMV requirements, winter weather’s effect on sales, and the state of the economy going into 2016.

Source: shopkeep.com

2
BUSY RETAIL SECTORS

For the first three quarters of this year, the top five fastest-growing retail sectors have been e-shopping, gift/novelty stores, hobby/game stores, hardware stores, and furniture stores.

To grab some of that retail spending in the fourth quarter, retailers would be wise to appeal to the following trends in consumer spending:

CONVENIENCE. Give your customers an experience to make their time with you worthwhile.



FUN. Consumers are spending more on recreational and quality-of-life interests. Align your brand thusly.



HAPPINESS. Focus on how your product, brand, or services can enhance customers’ happiness and comfort to make them feel rewarded by their spending.

Source: Unity Marketing

3
YOUR FUTURE CONSUMER

In the year 2020, the retail consumer will likely be older, female, and living on her own in a smaller household than today. According to the “American Consumers in 2020” report by Packaged Facts (a division of MarketResearch.com), aging boomers will make up one of the most important consumer segments in the 2020 economy.

Sources: retailcustomerexperience.com; packagedfacts.com