The on-demand economy and changing attitudes toward work and career in younger generations may mean big changes for your wine shop. [level-members]
On the demand side, more and more consumers have been trained by Amazon.com’s free-two day shipping and even same day delivery in some markets. As that trickles down to other retailers and other industries, it changes expectations across the board. Ecommerce may not be right for your shop – it’s not right for most small retailers – but delivery is probably something you should be promoting more than you already are. Convenience often trumps cost, and if you can provide convenience, you frequently can avoid selling on price.
The other side of the coin is staffing. Working in a small retail shop isn’t traditionally considered a career. It’s a job. (Unless you own the place …) With more and more Millennials seeking to “work to live” rather than “live to work,” you may find many more qualified candidates available when you hang out your “help wanted” sign.
On the other hand, you may have more trouble keeping those nicely-qualified hires as they head off to their next adventure.
The changes that companies like Uber and AirBnB and even Amazon have created may seem like they’re in a separate world from your Main Street retail life, but even when those firms aren’t direct competitors, the way they change client expectations does directly affect what you need to do to survive. It pays to watch the trends that affect retail business and the economy as a whole. If nothing else, it’s better to learn from someone else’s mistakes than from your own. [/level-members]