Do big store shutdowns offer a new opportunity to small business[ Edited ]
July 2016 - last edited July 2016
I saw the following story on the web today and I clicked on the link and went through the gallery of stores will be closing that was on the page. They all seem to be locations of big chain stores which have been blamed for ruining local economies. Does this trend of contraction by big chain stores signal an opportunity for small, local businesses that they can once again flourish?
Re: Do big store shutdowns offer a new opportunity to small business
Interesting question, @MikeJohnston! I'm wondering how often large big box retailers close in my area; if anything I've noticed more popping up. I think the local small businesses do a much better job of catering to specific niches as well as excelling in customer service (and product knowledge). I'm wondering how many of these bigger retailers are now closing due to too rapid expansion (versus an overall drop in revenue due to a lack of demand)? How many of these stores are suffering now due to competing product availability online?