When
you look at all the different types of businesses in the retail sector, big and
small, the ones that operate in a niche market tend to be the ones that enjoy
continued success. They’re not touting for business everywhere, they understand
who they are, know what they can do better than anyone else, and they don’t
just know who their customers are, they know what they want too!
Niche
can mean many things. With some of the bigger retail companies niche would point
to the likes of The White Company, Cath Kidston, Lush, to name but a few. There
are many smaller lesser known companies that have built very successful
businesses by concentrating their energies on what they do best such as, Labour and Wait and Baileys Home and Garden (shown above). All these companies have clear values and strong brand
identities. They don’t deviate from plan, and that takes
courage!
I see
niche like a person with a natural born talent for something. Something they can do better than anyone
else! Unfortunately not everyone
recognises their true talent and for some they never really find it! But, if you could apply this concept to your
retail business, how would it change things?
Operating
in a niche market should not be feared but encouraged. A niche business may initially
have slower growth and a smaller customer base but, their customers
will be ardent fans, they’ll share news with their tribe and contribute to the businesses
success.
Being
in a niche market can really help focus your business identity and the
development of your brand. In turn this
makes the process of how you communicate to your target audience so much
easier. Niche will make you stand out from a world of sameness. Niche is good, don’t
fear it, embrace it!
Have
you found your true niche yet? Do you
know what it is? Are you missing something, something obvious that other people
see and you don’t? Do you need help to strengthen
your brand in order to increase sales. If you do, get in touch, it may be easier and less expensive than
you think...
All the best
Peter
#visualcommunicator
#retailconsultant #designer
tel 07907 691711
email info@artysmith2.com
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