Small businesses are a big deal these days. We’ve all been into a Superdrug or Boots store and perhaps have purchased make up, hair products, skin care and perhaps even perfumes and aftershaves.
I was always one for heading to the Rimmel make up section for the latest trends and it’s an easy option to pop to the shops. Many have something to suit everyone and we’re in and out in no time.
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Small businesses versus the big stores
Small businesses and big stores (often referred to as large retailers or corporations) have distinct characteristics, advantages and challenges.
Let’s take a look at the key differences between them.
Size and Scale
Small businesses are typically independently owned and operated enterprises with a limited number of employees. They usually serve a local or niche market and may have a single location or a few branches distributed in different areas.
Large retailers and the bigger stores are corporations with substantial resources, multiple locations and a vast network of stores or franchises. They have a much larger scale of operation and can often operate at a national or even international level.
Product and Service Offering
Smaller businesses often specialize in a particular product or service. They may focus on providing personalized and unique products to their local customers and will often cater to specific needs that might not be met by larger stores.
Large retailers typically offer a wide range of products and services. They have the ability to buy in bulk and offer competitive prices due to their economies of scale. This broad product selection attracts a larger customer base and when there is more choice of product or brand, customers are drawn to shop here.
Small businesses tend to provide a more personalized and intimate customer experience. They often know their customers by name, understand their preferences, and can offer tailored solutions to their needs. This is one of the reasons why customers will return to a small business.
Large retailers focus on efficiency and convenience. They may provide a consistent shopping experience across their chain of stores and they often invest in technology and processes to streamline the customer journey. They have the funds to things on a much larger scale and therefore attract the customers.
Large stores are an easy go-to place for any home items. We pick our items off the shelf, pay at the counter and off we go.
Shops like this already have the trust in their buyer, just like the supermarkets and no one checks the reviews of these shops because they are so huge and in every town that they don’t require it. They’re trusted from day one and we continue to visit them.
Impact on the Local Economy
Small businesses play a vital role in supporting the local economy. They create job opportunities within their communities and contribute to the growth of the region. Additionally, they may support other local businesses by sourcing products and services from nearby suppliers. This in turn helps everyone.
While large retailers bring convenience and cost savings to consumers, they can also have a mixed impact on the local economy. On one hand, they create jobs and attract foot traffic to shopping areas.
On the other hand, they may displace smaller businesses and cause some economic strain on local communities.
I do believe that these days there are more and more people who are willing to support smaller businesses, especially when the world’s economy crashed with Covid.
Marketing and Advertising
Smaller businesses often rely on word-of-mouth, local advertising, community engagement and events in tube or local area to promote their products and services. They might also have limited marketing budgets compared to the big stores.
Bigger stores have significant marketing budgets, allowing them to run extensive advertising campaigns, sponsor events, and implement loyalty programs. They have a more extensive reach and can leverage their brand recognition to attract customers.
Flexibility and Adaptability
Small businesses can be more agile and responsive to changes in the market. They can quickly adjust their strategies and offerings to cater to local trends and customer demands.
Large stores might face challenges in adapting to local preferences due to their standard and central operations. However, their size and resources can also provide them with stability and resilience when faced with economic fluctuations.
Both small businesses and big stores have their place in the market, and each offers unique benefits to consumers and the overall economy. By supporting both types of businesses, we can help maintain a healthy and diverse business landscape.
Money didn’t matter
Prices will vary depending on the brands we purchase but we still make a purchase because such items were needed or wanted.
Many supermarkets started selling make up and fragrances along with food and clothing and this made shopping for such items even easier to purchase.
FM World have been selling perfumes as well as our everyday everyday products too.
Starting out as just a perfume company back in 2004, FM World saw a huge potential in introducing cosmetics alongside their popular fragrances.
So why do small businesses struggling to get noticed?
Many people choose high street brands over a small company brand because:
1) You can buy all that you need on your usual shopping trip without the need to go into lots of different shops
2) There is no waiting at home for a delivery
3) The big stores are well known and trusted so customers are more likely to shop there
But what we don’t get when we purchase from such shops is the personal care.
“How are you getting on with your new shampoo ?”
“ Can I help you choose a new fragrance ?”
“You mentioned that your skin is very dry, I may have a product that could help with that “
These little touches are what make small businesses unique and stand out from the bigger stores.
Think before you purchase
The next time you visit a beauty store or supermarket, before you pick up your usual foundation, shampoo, face cream or deodorant, ask yourself if someone running a small business can help with your purchase.
At FM World we know how important customer care is. By providing a personal service to find the perfect fragrance for customer, it keeps you coming back, not only for the great products that we sell but also the personal service and help in finding a perfume or aftershave that is right for you.
We know that the big stores will always survive, even through a huge pandemic. Customers will forever be visiting shops in small towns, large towns and cities.
Small businesses are constantly fighting for survival. It takes time to build trust when people choose to set up business on their own.
We’re not as popular as the known shops but we’re still here to assist so to help us, please let us help you.There’s room for everyone.
Small businesses are the lifeblood of our economy and essential contributors to the fabric of our communities. They bring innovation, creativity, and personalized customer service that sets them apart from larger corporations.
Fragrances With Love is a prime example of a small business that has successfully carved out a niche in the fragrance industry.
Throughout this article, we have explored the journey of Fragrances With Love, from its humble beginnings to its growth and success. This small business has showcased resilience, adaptability, and a deep passion for their craft.
By prioritizing quality, authenticity, and a personalized touch, we have been able to build a loyal customer base and establish ourselves as a trusted brand.
The challenges faced by small businesses are not to be underestimated, especially in an increasingly competitive and rapidly evolving market.
However, we have shown that with determination, a strong business model and a dedication to our customers, it is possible to thrive even in the face of adversity.
Supporting small businesses is crucial for the overall well-being of our communities. By choosing to shop local, we not only contribute to the growth and success of these enterprises but also promote economic diversity and sustainability.
Furthermore, small businesses often provide employment opportunities and help create a sense of community.
As consumers, we have the power to make a difference by consciously supporting small businesses and the entrepreneurs behind them.
By opting for unique, high-quality products and personalized experiences, we not only enrich our lives but also enable these businesses to continue pursuing their dreams and aspirations.
In a world dominated by big corporations, it is essential to recognize and appreciate the value that small businesses bring to our lives.
They are the heart and soul of our economy, adding flavor, character, and authenticity to our shopping experiences. We serve as a shining example of what small businesses can achieve, and our story should inspire others to actively support and celebrate these local enterprises in our communities.
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