HOW WILL BIGGER STORES GETTING INTO THE ‘LOCAL’ STORE GAME AFFECT SPECIALTY STORES?
Q: I have been reading about the trend in big box stores opening smaller format neighborhood stores, making it easier for local shoppers to browse and do returns, like Nordstrom Local.
How do you see these smaller format stores affecting our already existing independent brick and mortars, which have been serving these neighborhoods for years?
Steve Pruitt: Good question. I say let’s be optimistic. What if these stores bring more traffic to your town center? All you have to do is compete. In all likelihood, you have a better mix of merchandise and salespeople who really know the neighborhood. So I say, bring it on. You have the relationships, so you can maximize the business. Let them bring their little big boxes – it’s still just a box.
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The merchandise assortment of the small Box formats needs to be perfected and zone specific in order for that store to make an impact. Here in South Beach where I live Target just opened a small Box format and the merchandise is either boring or the selection is so poor that you really don’t want to buy anything there.