Survival Strategies of Small Independent Retailers

Faced with fierce competition from large format retailers, small independent retailers are forced to reconsider their strategic approach. Although this sector is mostly characterised by stagnation and decline in activity, small independent retailers should develop and emphasize their distinctive competencies in order to survive and achieve an appropriate market share. In that context, the focus must be placed on differentiation, specialization, as sociation, finding profitable market niches, personalization and building customer loyalty. The entry of large format retailers into a market has also influenced the consumer behaviour. Small retailers should examine their potentialities and identify the opportunities presented by the market. It mainly refers to customer strategies and creating a more personalized relationship with their buyers. Close contact with the customers allows them to adapt more easily and quickly to their needs in a competitive ret ail environment. The aim of this paper is to analyse the present situation of small independent retailers, as well as the future of this retailing format in the face of the evolving retail sector and ever-increasing competition. The paper considers the experiences of small independent retailers from various countries worldwide, as well as different strategies they apply in order to remain competitive.