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David vs Goliath: How to Compete, And Beat, The On-Line Giant. 100 Proven Promotions For Brick & Mortar Retailers (1)

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About David Vs Goliath: How To Compete, And Beat, The

In this age of Amazon, Google, and online ordering, sometimes it's hard to remember the days of brick and mortar stores, when you could walk into a physical store, and touch, see, smell the food, clothes, books. Brick and mortar (or B&M, as we will refer to it in this book), are those retail businesses that are located in an actual building (as opposed to an online retailer, or e-tailer, who rarely has a physical location for shoppers to visit).In a relatively short period of time, total retail e-commerce sales across the world has reached $3 trillion. Were all those sales taken away from the B&M retailer? Is the rise of e-commerce threatening the existence of the traditional retail stores? I don't think so, but B&M retailers need to be aware of their market, and adapt as necessary. Maybe that means changing the way they run their shops, making a shift in their product mix or simply operating differently than they had in the past. The one thing that won't work is playing the pricing game that online discounters are engaging in right now, because that could lead to the B&M demise. If you, as a B&M shop owner, try to compete with lowest price and biggest selection the e-tailer offers, you will lose. No longer can the B& M claim "we have the biggest and best selection at the best prices" because they don't, it's just that simple. The best selection is online, with every item and every color in stock right now. Almost every time, there is someone selling the same product as you for less money. A B&M just can't compete with the e-tailers' buying power, giant warehouses of inventory and the fierce competition of the online marketplace (sometimes against the very manufacturer of the product). Sometimes the manufacturer is selling directly to the end user, who used to be your customer. Is all hope lost? Not at all. It just requires a rethinking of strategy, and to work smarter, not harder. B&M retailers need to play to their own strengths, which are totally different than t