The Power of Small: How Small Format Is Revolutionizing the Industry
For over four decades, BBI has been a pioneer in small-format representation. In recent years, this market have been gaining popularity among retailers as they provide several advantages over traditional stores.
According to an article by SmartBrief, "many retailers – from traditional "big-box" to grocers and more – are adjusting their store models by shifting to smaller-format stores that occupy a fraction of the square footage of their traditional store models."
One significant advantage of small-format stores is that they can be tailored to suit the needs and preferences of specific demographic groups. This means that retailers can offer a more personalized shopping experience that caters to their target audience's unique tastes and preferences.
Another benefit is that small-format stores are often located in urban areas and other highly-priced real estate markets, allowing retailers to expand their reach without investing in large, expensive storefronts. This can translate into higher profit margins for retailers and lower prices for customers.
Small-format retail spaces, including kiosks, pop-up shops, or small retail stores, can take various forms. They are typically located in high-traffic areas such as shopping malls, transportation hubs, or entertainment venues, making them highly visible to potential customers. "With the right mix of product in-store, a smaller format store can often mean a more efficient sales strategy," stated Contributor Jia Wertz from Forbes.
However, small-format retail spaces do have some limitations. They typically have less inventory space than larger retail stores, which can limit the variety of products that can be offered. Additionally, they may not be able to offer the same level of customer service as larger stores, which can impact customer satisfaction.
Despite these limitations, small-format retail spaces remain a trend as they offer a flexible, cost-effective solution that can help to drive growth, reach new customers, and increase sales while changing the face of the retail industry.
Partner with BBI to stay ahead of the curve
As we look ahead, BBI is at the forefront of systemic changes in consumer behavior and partnering with leading retailers across all classes of trade on how to best meet the needs of today's consumers.
Having a wealth of experience in small-format representation, BBI is also widely recognized by our retail partners as a thought leader with respect to omnichannel strategies, particularly as it relates to the integration of distribution and promotions.