Smaller stores require smarter management

An article in today's USA Today supports a premise that most of us already knew: The small, independent retailer faces challenges that bigger companies don't during a recession and its aftermath. Click here to read the story.

Implications: A while back, I was driving by a suburban shopping area that was loaded with the kind of big-box and discount stores that are now ubiquitous throughout most U.S. suburbs. He turned to me and said, "Welcome to Generica." I grinned, because the term instantly made sense to me.

The independent retailer must be prepared to offer customer services that are difficult to achieve in a mass-merchandise, build marketing messages and partnerships that are responsive, agile and effective... and finally, notice and respond to slight shifts in their customer's purchasing priorities.

Their advantage: Their companies are often a little bit closer to Elm Street, and therefore, their customers.

Mike Anderson