family owned stores versus big box stores
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Question: If your family owned a store selling clothing, variety goods or customer electronics and a competitor like home depot or circuit city opened a store in the same area, what would advise your family to do?
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Solution Summary
The best way for small family-owned stores to survive when a big box moves in is to .......
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The best way for small family-owned stores to survive when a big box moves in is to not compete head on with them at all. A small store cannot possibly sell such a wide variety of product at such low prices. Rather such a small company must compete on value. Many people are willing to pay more for a narrow range of products if there is value.
For example, a clothing store could offer home ...
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