Are any small businesses thriving?

[Culture Oddyssey]

Other than food vendors that is? I notice the high streets and town centres are gradually being converted into endless rows of coffee shops, sandwich shops, takeaways etc while on the local markets and craft fair stalls I attend only the cupcakes and home baked good seem to be selling. Is it time for a total change in direction?

 

[PBaddoo]

I think alot of the businesses are going down the online route..... its the way forward!

 

[Culture Oddyssey]

I think alot of the businesses are going down the online route..... its the way forward!

But my online business is just as bad!

 

[Talay]

Personally I think there has been a seismic shift in the whole economy which is never going to be reversed. Even as the economy recovers, people have actually found tangibility in "value" and the somewhat hedonistic spending without thought is not coming back.

Resilience to this changed economy is going to be key and some businesses are simply going to wither because people are no longer prepared to justify the cost to themselves, even if they can afford it. Saving the money gives them greater pleasure than buying the item.

 

[mhall]

Online is certainly not the way forward, it is ONE way, especially if you are competing on price and can undercut everyone. Stupidly, you could have a business with 12,000 reviews and have been going years, but if someone brand new and with no reviews undercuts you by 20p - you lose ! Personally we wouldn't go back to on line ever !

Are we thriving? Certainly not, but we are holding up. It's never been harder but as more people fall we seem to be picking up, whether that is because we are better or whether the customers choice has been limited I wouldn't like to say (well I would, but modesty forbids!)

It depends on lots of things, we have one shop that is 18% down year on year and another that is 27% up. Thankfully 18% down on not a lot is not that much difference and the 27% up is on quite a lot, so we are ok, but if we knew what the cause of the discrepency was we would be very happy.

I think a refit is always worth while every couple of years. Not a change in direction as such but a fresh look at what you do.

 

[S-Marketing]

All of my businesses are thriving, thanks for asking.

I put it down to genius marketing strategy, but it could quite easily be pure luck.

 

[willj87]

I've noticed specialist flooring shops doing really well at the moment. Especially the ones slightly out of town where people would go to specifically rather than relying on passing trade!

 

[Culture Oddyssey]

Personally I think there has been a seismic shift in the whole economy which is never going to be reversed. Even as the economy recovers, people have actually found tangibility in "value" and the somewhat hedonistic spending without thought is not coming back.

Resilience to this changed economy is going to be key and some businesses are simply going to wither because people are no longer prepared to justify the cost to themselves, even if they can afford it. Saving the money gives them greater pleasure than buying the item.

There also seems to be a shift towards people spending their spare cash on personal services (hair, nails, beauty therapy, massage, gyms etc) rather than owning lots of new stuff!

 

[Culture Oddyssey]

All of my businesses are thriving, thanks for asking.

I put it down to genius marketing strategy, but it could quite easily be pure luck.

I suppose that businesses who help improve other businesses are also bound to thrive when times are tough!

 

[S-Marketing]

I suppose that businesses who help improve other businesses are also bound to thrive when times are tough!

Only if they are good and get results.

I wasn't actually referring to my consultancy work though. Although now I think about it, I seem to have stumbled into the retail forum, so my businesses aren't relevant anyway.

As you were, chaps and chappesses of retail.

 

[bigeasy]

I've noticed specialist flooring shops doing really well at the moment. Especially the ones slightly out of town where people would go to specifically rather than relying on passing trade!

Yay me
One good thing about selling flooring, especially carpets, is that customers like to feel the different textures, something you can't do online! There's a huge difference between an 80/20 60oz carpet and a polypropolene 50oz carpet, but you might not be able to tell from a picture.

 

[Talay]

There also seems to be a shift towards people spending their spare cash on personal services (hair, nails, beauty therapy, massage, gyms etc) rather than owning lots of new stuff!

I think that is a natural reaction to a slight uplift in consumer perception. After a long period of negativity and stagnation, people seem to be discounting further problems and are perhaps prepared to spent small on personal luxuries.

It is a long way off big ticket items but there is some small level of confidence. Of course, things such as lenders raising SVRs and any shift in the budget to curtail pension tax relief or heavens forbid they touch the 25% tax free, and it could all fall apart and we head back into recession.

 

[kelvin1950]

I think alot of the businesses are going down the online route..... its the way forward!

Not easy to get your hair cut online though. Just a thought.