In recent years, there has been a trend of consumers gravitating towards independent retailers rather than large chain stores. According to a study conducted by Civic Economics, for every $100 spent at an independent retailer, $68 stays in the local economy as opposed to $43 at a chain store. Consumers are also willing to pay more for better service and a more personalized experience, which independent retailers are more likely to provide. As a result, brands need to be aware of the importance of independent retailers and how they can benefit from partnering with them.
When customers purchase products from independent retailers, they are more likely to be brand loyal. According to a study by Nielsen, 82% of consumers expressed that they feel more positively toward a brand when they purchase it from an independent retailer rather than a large chain store. This is likely because customers appreciate the personalized service and individualized attention that they receive from independent retailers.
Independent retailers are also more likely to have stronger relationships with their customers. They are able to get to know their customers on a personal level and understand their specific needs and wants. As a result, customers are more engaged with the brand and are more likely to make repeat purchases.
When brands partner with independent retailers, it enhances the image of the brand. Consumers perceive brands that are carried by independent retailers as being high-quality and exclusive. This is because consumers know that independent retailers carefully select the brands that they want to carry in their stores. Therefore, partnering with an independent retailer can help brands to increase their perceived value in the eyes of consumers.
Independent retailers offer many benefits to brands, including increased loyalty among customers, greater customer engagement, and enhanced brand image. In today’s increasingly competitive marketplace, it is important for brands to partner with independent retailers in order to differentiate themselves from their competitors and build strong relationships with their customers.