Date of this Version
Business in Nebraska vol. 51 no. 612
In most retail sectors small firms are under extreme pressure from larger competitors, who are able to offer lower pnces and wider product assortments. This article addresses small retailer survival by:
- reviewing general trends in the retail industry;
- outlining strategic considerations for small retailers; and
- developing a list of specific strategies available to small retailers.
This issue is particularly relevant to Nebraska, given its high proportion of small retailers (Table 1).
General Trends in the Retail Industry
Specific Strategies and Tactics
Strong Growth Expected in the Next Two Years
Urban and Nonurban Job Growth
Nonfarm Personal Income
Net Taxable Retail Sales