Specialized shops vs Supermarkets
Today`s challenge for retail business is the battle between small specialized shops and huge supermarkets where we can buy everything.
The big supermarkets are already dictating the rules in the retail market, however there are still some small specialized shops that have their loyal customers. Every time when a big shopping center or a supermarket is built it takes all the customers from shops around it. This phenomena is more visible in smaller cities and towns where the market is not as big as in bigger cities.
How can the small shops maintain their position in the market? What is the situation in different parts of the world? And what is more beneficial from the customers point of view?
Research question: How can small specialized shops adapt to situation that we have nowadays?
Most of the customers are ready to pay more for the quality of service.