The Coexistence of Big Box and Small Retail Relies on Synergistic Relationships
Despite being long time competitors, big box retailers and small local businesses can both coexist in ways that benefit the other. Of course, both retail formats are different but by maintaining their core business models, the two can bank and leverage their strengths and still be open to synergistic relationships.
During an episode of Experts Talk for a roundtable segment focusing on the state of big box stores and small retail, Dr. Mansur Khamitov, Assistant Professor at Indiana University, detailed exactly why there is a necessity for these entities to coexist and learn from each other, focusing on agility and personalization.
“So in many ways they just have to, coexist … and play into their strengths, but at the same time, stay agile, stay nimble, and learn from the other format,” Khamitov said.
Article by Alexandra Simon.
