The Smart Way to Shrink Your Retail Footprint
Retail space isn’t what it used to be. More people are browsing and buying online. Stores can get products faster from manufacturers, so they don’t need as much space to warehouse inventory. Small businesses are thus moving to smaller storefronts to lower costs.
If you’re going to Shrink Your footprint, make sure you have a plan.
“Understand why you’re doing it; understand why it’s better to do than **t to do it,” says John Krubski, a Retail marketing consultant with ITLC Insights. The decision “will inevitably have consequences lasting beyond the immediate circumstances,” he says.
There are Smart ways to cut Your rent by half—or more. Most retailers should be exploring them, especially if they have large warehouses or other space dedicated to storing inventory, says Bob Phibbs, a Retail consultant at Retail Doctor. “Just-in-time delivery is **w available from most anyone,” he says. “Many retailers are paying for space they simply don’t need.” Read more...
05-09-2014, 09:30 PM
The Smart Way to Shrink Your Retail Footprint
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