| Most will see a serious disconnect between wholesale | | | | as they rise on the economic ladder basic needs find |
| evening bags and survival tactics-that is until we pass | | | | fulfillment and consumers become more sophisticated. |
| on an unnoticed movement that is building in retail. | | | | Now back to small business and niche markets. Let's |
| JWT is a company dedicated to market research and | | | | put it in a simple setting that we have all probably |
| they noticed a developing pattern that is so | | | | experienced. Imagine a flea market with a booth full |
| important, they not only prepared a report on it, | | | | of a hodge-podge of merchandise. The shopper |
| they also created an entirely new category for it. We | | | | quickly scans the booth and if nothing catches the |
| are talking about nichification, a buying pattern of | | | | eye moves on. The next booth sells old records, |
| movement from mass marketers to niche retailers. | | | | CDs, and tapes. Anyone interested in this is in there |
| What in the world could that have to do with | | | | seriously shopping and most won't leave without a |
| wholesale evening bags or survival tactics? The next | | | | purchase. |
| few paragraphs will not only reveal the answer, but | | | | You are probably beginning to see how this relates |
| will provide major insights that will be key to the | | | | to survival tactics, but what about the wholesale |
| future success of small retailers. | | | | evening bags? Now let's imagine we are a bride |
| Nichification is not something new, but a return to | | | | shopping for evening bags to match bridesmaid |
| something from earlier retail-this time for a different | | | | dresses. You search every type of retail location |
| reason. A history of retail reveals that small | | | | mentioned above. You will find brand named bags, |
| businesses captured most of the retail dollars spent in | | | | discount bags, trendy bags, but very few evening |
| the beginning of the twentieth century. By the | | | | bags, and most likely none in the color you are |
| forties and fifties, the retail centers were downtown | | | | looking for. This is a seriously overlooked niche |
| areas built around major (usually local) department | | | | market and bridal is not the only need. In the spring |
| stores. Women would dress up, often take the bus, | | | | prom girls have the same problem as well as women |
| and go downtown to do their shopping. Then the | | | | that need evening bags for the hundred s of other |
| advent of shopping centers in the sixties provided an | | | | events that call for an elegant bag. |
| option with ample parking and casual shopping. In | | | | As a distributor of evening bags, we know wholesale |
| addition, mass merchandisers like Sears and Penny's | | | | evening bags have tremendous variety in elegant |
| were moving out into the neighborhoods. Major | | | | designs and an extensive range of colors, but we |
| discounters like Woolco, K Mart, Wal-Mart, and most | | | | also know that the retailers that carry them are very |
| recently Target were replacing the dime stores. Small | | | | scattered and there is probably not a retailer in your |
| retailers had plenty of competition. | | | | area with a serious selection of evening bags. With |
| Today something is gradually happening that is so | | | | the pendulum swinging towards specialty retailers, |
| subtle most don't realize the movement is taking | | | | evening bags offer a golden opportunity to fill a niche |
| place. Chains are springing up to serve certain rooms | | | | market. |
| of the house like Linens & Things and Bed, Bath, | | | | Can a retailer survive on a niche market of evening |
| & Beyond. Small shops are opening just to refill | | | | bags and pay all their overhead? Highly unlikely, but |
| ink cartridges. Major stores specializing in sporting | | | | you have made the first important step towards |
| goods are filling the parking lots like Wal-Mart. | | | | success in a world of increased nichification. Now add |
| Markets are becoming more specialized as consumers | | | | related items and preferably some that will give you |
| become more sophisticated. There search is no | | | | more exclusives with needs and reasonably good |
| longer for an item, but for an item with specific | | | | demand. Rhinestone jewelry, formal gloves, tiaras, |
| qualifications. Niche retailers supply choices and this | | | | bridal jewelry, and crystal jewelry go well. Now you |
| reopens the door for small retailers. | | | | are approaching a selection with lots of need and a |
| Of course there is a reason for this and that reason | | | | number of hard to find items that can build a |
| is increased global prosperity. A person has a number | | | | specialized retail business with great potential for |
| of needs to satisfy before they can be concerned | | | | paying the overhead and making you a profit. |
| about style or particulars in a consumer product, but | | | | |