UNT expert shares ways Small Business Saturday can help retailers

Tuesday, November 25, 2014 - 19:21

Small Business Saturday – an annual shopping holiday marked the Saturday after Thanksgiving – can be a powerful tool to help smaller retailers compete with the major corporations. Charles Blankson, associate professor of marketing in the University of North Texas College of Business, discusses the holiday's impact and ways smaller stores can make the most of this retail shopping season.

What competition will small stores face this holiday season?

"Small businesses, in this context are facing an uphill battle," says Blankson. "The big players – you know, Wal-Mart, Toys"R"Us, (The) Home Depot, Sears, Macy's – all of them are beginning to take the entire month of November as the "Black Friday," and therefore, small businesses should no longer look at that Saturday only as the day surprising the customer or whatever. It should be something that is long term."

His advice to the small retailers?

"Know the consumer very, very thoroughly, and then provide for their needs wants and aspirations," he says, adding that in order to succeed, savvy business-minded individuals must tap into the often hidden desires of their customers.

What impact can small businesses have on local communities?

"Small businesses (are) the core of the economy," he says. "Small businesses employ roughly 60 to 70 percent of the population of the United States, and therefore, small businesses make a big impact. You're giving money to somebody who lives locally, who pays taxes locally, who basically is involved with the local community."

Blankson can be contacted at 940-565-3136 or Charles.Blankson@unt.edu.

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