Ultimately all products are suitable for traditional retailing. However, as in the case of the independent record shop discussed earlier, even if your product is suited to traditional retailing you must be careful. If the product you intend retailing is already widely available in what has become a fiercely competitive high street retail environment, you stand no chance of success.
Don’t even contemplate taking on the multi-retailers. I continually despair when I see new businesses open in our area which are retailing products or produce that are already locally available. Most household budgets will already be overspent. Unless you live in millionaires’ row, few people will buy from you if what you’re offering is available elsewhere at a much cheaper price.
Just take a look at petrol stations. How many small, independent petrol stations do you know of in your neighbourhood? Personally, I can’t think of a single one. Where
I live even the larger car retailers have now given up on retailing fuel, as the major supermarkets have made profit making in this area next to impossible.
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