If your retailing problem is like most, it's figuring out a way to stay in the black in these tight economic times!  My last post on Starbucks really stirred the community up, which is great, so I decided to write on another Big Box I have heard a lot about in the news lately - Best Buy.  Through these harsh economic times for retailers, Best Buy is succeeding and their projections for 2008 seem bright!

So why does Best Buy have it so good?  What are they doing that keeps them on the top of the heap?  It can't be that everyone is in the market for a new flat screen TV.  The key for Best Buy according to a recent article in Forbes has been there service. 

"Differentiating with better service is all the more important when belt-tightening consumers have the option of getting electronics on the cheap at Wal-Mart (nyse: WMT - news - people )."

I found this quote to be very inspiring for the independent retailer.  I agree that differentiating ourselves with better service is all the more important during these tight times for our customers.  We must think about this when faced with the competition of the Target's and Costco's! 

I mean anyone can get wine for cheap at BevMo! or Costco, but I believe they frequent my shop for the experience and the customer service my team provides.  And even though the cost might be higher, I know I will keep my customers during these times as long as I continue to differentiate my shop through service, knowledge, and fun!

I encourage everyone to read the entire article in Forbes as it lists out many other key things Best Buy is doing right that we can all learn from.  One is their focus to better understand their customers through frequent buyer programs, (that are FREE to join mind you).  This way they are able to better position their stores to cater to clientele that live in a certain area over another. That's the best gift the big boxes can give to me, the ability to learn from their trial and errors!