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How Mom & Pop Shops Can Thrive in the Midst of Big Retail

How Mom & Pop Shops Can Thrive in the Midst of Big Retail

The smart store owner knows that the summer season changes shopping habits. With the warmer weather, shoppers are eager to leave their homes, are more likely to buy on impulse, and are excited to make purchases for all their upcoming summer activities.

July is not only the height of summer, but it’s also Independent Retailer’s Month—a time dedicated to encouraging locals to shop small and local to support their community businesses—like mom and pop shops. 

Like other independent retailers, mom and pop shops add unique value to their respective cities and towns of residence. As the name suggests, mom and pop shops are usually small, family-owned businesses. They can take on any number of forms, such as bookstores, specialty toy stores, clothing boutiques, hole-in-the-wall restaurants, or other types of physical storefronts.

In addition to boosting their local economies (and keeping money within the community), mom and pop shop owners can provide highly personalized experiences for shoppers in a way that big box retailers can’t replicate. Even in the face of competition from eCommerce stores, mom and pop shops continue to thrive, partially owing to the fact that 85% of consumers still prefer an in-store shopping experience to online.

Although large retailers may offer especially cheap prices, cheaper is not always better. Mom and pop shops stand apart because they typically offer higher quality niche products that can’t be found in any old department store. Mom and pop shop owners must also determine the best strategies to stay competitive throughout retail’s reinvention.

Integrating online shopping options, hosting in-store events regularly, using unique marketing and coupon offers, and executing a highly personal customer retention strategy are just some of the ways mom and pop shop owners can stand out from other stores. 

Make the most of Independent Retailer’s Month by reading this infographic from Fundera for actionable tips to help your mom and pop shop succeed against competitors!

How Your Mom & Pop Shop Can Succeed Against Big Retailers

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About The Author

Meredith Wood

Meredith is Editor-in-Chief at Fundera. Specializing in financial advice for small business owners, Meredith is a current and past contributor to Yahoo!, Amex OPEN Forum, Fox Business, SCORE, AllBusiness and more.

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