Sharpening the point of difference

Independents are often deThey also have to battle for every cent of a consumer dollar increasingly diverted to other discretionary products and services, as well as the rising costs of fuel and property.
However, it's not all doom and gloom for the smaller players; their relatively diminutive size affords them an ability to react quickly to the market that frequently eludes larger entities. They also have the power to identify their target market and determine the character of their business accordingly without recourse to cumbersome corporate protocol.
Those that do so successfully can provide consumers with a much valued point of difference from chains, majors and other independents, often in the form a unique retail experience or exclusive product.
This year's winner in the independents category - Melbourne store Harrolds menswear - is a retailer that has achieved just such a point of difference.
The judges' first impression on entering Harrolds' Collins Street emporium - located in the CBD of Melbourne - was that they had entered a store like no other and were in for a treat.
This impression was largely created by the store's exquisite lay out and visual merchandizing, which conveyed the idea that every product on display had been hand A premium level of customer service was also evident, including a bespoke tailoring service and an in-store coffee bar. Staff - many of whom had spent a significant portion of their careers working for Harrolds - displayed a solid level of product knowledge; they had clearly been trained to nurture long term confidence in male clients according to the store's philosophy of building a wardrobe dictated by style over fashion.
Harrolds' advertising strategy is well aligned to its target market, with print media campaigns including The Financial Review and a range of car magazines, but no advertisement can convey the unique feel of the stores themselves.
Excellent product, premium customer service and a second-to-none retail experience has worked more magic for this retailer than any conventional advertising or loyalty scheme, resulting in strong and steady growth since it first opened more than two decades ago.