A global retail authority believes local independents are better positioned to respond to the multichannel dilemma than their larger counterparts.
WGSN senior retail analyst Lorna Hall made a presentation on global retail trends at boutique trade show Premiere earlier today.
Hall said while some independent retailers were struggling to compete with chains and department stores on price and scale, they had a competitive edge in implementing new sales channels.
"Many of the larger businesses are having to invest millions in changing their infrastructure and overhauling legacy systems that have been in place for years," she said.
"A boutique owner can respond to changes in the market much more quickly, because they are smaller and usually responsible for every part of their business."
Hall also commended boutiques which sourced new and niche labels not readily available in the market. She said this was integral in competing with local and global retailers pushing in through multiple channels.
"It's about finding that sweet spot with pricing among your customers and conducting a good edit of collections which address it. [Larger firms] can conduct quite a boring edit based on volume and [mass] appeal."
Hall said the same applied to smaller brands or wholesalers exploring online channels, with smaller risks and burdens required in areas such as product range.
"In terms of exclusivity, which is a big issue when it comes to stockists, [they] can develop separate lines for online and offline partners as a point of difference."
Globally, Hall noted a move by independents to fight back against larger firms, with consumers also joining the push through initiatives such as "cash mobs".
"We know flash mobs get together in public places to dance or do something along those lines - cash mobs get together and visit a local small business, spending around $10 or $20 each to boost that business. It can be very lucrative for smaller boutiques."
Hall's presentation was facilitated by Ragtrader editor Assia Benmedjdoub.