Many retailers face a common problem: what do you do when you are directly competing with one of your vendors?
For example, a store selling Sony products has to compete directly with Sony online, which has inherent cost and supply advantages over brick and mortar retail businesses.
Not only is it easier than ever for customers to buy products directly from manufacturers online, but they are opening their own stores and using third-parties to get around the very retailers who built their business.
But I get it, stockholders are looking for additional value and the easy way is to cut out the middleman; just like the customers.
The problem is, the customer I believe still needs a middleman.
As an independent retailer, how do you turn a profit on products like this when your margins are thin to begin with? Continue reading Retailers: How To Beat A Lower Priced Competitor, Your Vendor »