This article is part of the America's Favorite Mom & Pop Shops series. Read more stories
Key Takeaways Curate ruthlessly, stay in stock and use tech to predict demand before customers walk away.
Turn your store into a community hub where expertise, values and experience beat convenience alone.
Picture this: a men’s clothing boutique that mixes professional attire with a little weekend streetwear. Its wood-and-stone interior is masculine but warm. The salespeople live and breathe style, and they’re happy to share their knowledge.
That’s the store I’ve dreamed about opening — and a version of the sort of retailer I often see succeed.
Over the past 20 years, I’ve worked with tens of thousands of store owners on three continents, selling everything from apparel and housewares to eyeglasses and surfboards. Trends come and go, but they’ve taught me a few fundamental things about getting physical retail right and building a loyal customer base. They’ve also shown me what can go wrong.
For small retailers, the landscape is more competitive than ever. No wonder four out of 10 fail within five years. But successful merchants can turn the in-store shopping experience into a differentiator while also leveraging the latest tech. Here are some of my biggest learnings from the frontlines.
Related: Younger Shoppers Don’t Want ‘Human Contact’ — Where Does That Leave Stores?
It all starts with the right product
Having the right product might sound painfully obvious, but it’s the Achilles heel of physical retail. Stores have two big advantages: customers can try something and take it home right away. The catch? That product better be in stock. If I traipse all the way to a bike shop in my hometown of Montreal and the disc brakes I’m set on buying are sold out, I might not come back.
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