Up Against the Wal-Marts: How Your Business Can Prosper in the Shadow of the Retail Giants

Wal-Mart is on the Web. For that matter, so is Egghead Software, Amazon Books, and some other giants. While this book is designed for physical retail stores, it contains a number of strategies which are useful to Web retailers. Chapter 2 discusses "Ten Survival Strategies" which can differentiate your webstore from lager competitors. One of these, "Position for Uniqueness," is vital. "To position effectively, you must be different, stand out, and be memorable," argue the authors. "You aren't Wal-Mart, so don't try to be just like it. Study its success, learn from it, but position your business in those areas where the megastores can't compete effectively with you. Look for areas where you can say, 'We're better because ….'"

Many large online stores aren't able to focus on individual customer needs, so this is a way you can shine. The authors' "Delivering Whatever-It-Takes Customer Service" will give you a number of ideas which can help you sharpen your customer-focus, and thus position yourself uniquely on the Web.

Chapter 9 includes a number of "Tools for Gathering, Analyzing, and Using Management Information." Various ratio formulas, variance comparisons, and trend analysis tools keep you knowledgeable and flexible so you can make changes in time to protect the bottom line from erosion.

Price is one of the areas of strong competition for web merchants. The authors discuss a number of strategies for pricing which will ensure profits while increasing value perception among shoppers. Perhaps one of the most helpful tips is to join buying groups which enable members to match Wal-Mart's buying clout. They also introduce the 7-step Flex-Pro® Variable Pricing System which enables you to retain the perception of value in the customer's mind while maintaining desired profit margins.

If you're serious about online retailing, then consider this inexpensive book a strategic investment in your future.