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20 Feb 2008

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Provincial Retail Business, 2008: Remaking the Concept, Preparing for Competition ( Business Brief No.2110)

คะแนนเฉลี่ย
Many factors play a vital role in determining the situation in the provincial retail business, such as the rapidly changing lifestyle of local people, the economy that has yet to show sign of recovery – and tougher competition. Modern trade outlets have tended to proliferate across the country and are successful because they have the capital, variety of products and appealing customer atmospheres for shoppers; they also excel at retail business management with many branches nationwide.

KResearch is of view that understanding the needs and desires of customers is basic to the survival of provincial small-scale retail business. For sustainable survival, small retail shops, especially upcountry, should apply strategies to stimulate their markets. Aside from the need for funding availability (source of capital) and a good business location, entrepreneurs should employ newer concepts and business plans, to respond to the changing in consumer behavior, their demand and the movements of competitors and the economic situation. In so doing, entrepreneurs will better understand their business and competition in the market in order to effectively find their market positions and identify target customers. These days, price is not the sole factor when it comes to purchasers' decision making. Other factors also include the image of product, the convenience that they are offered, deliveries, payment methods and the desire for better service (pre-sales, at the point of sale and after-sales.) All these factors will lead to an accurate situation analysis, enabling entrepreneurs to adjust their business model in a timely manner.

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