How can company differentiate itself from larger retailers

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Reference no: EM133352597

Assignment:

XYZ Retail Company is a small, family-owned business that specializes in selling high-end clothing and accessories for men and women. The company has been in business for 15 years and currently has three retail locations in affluent areas. They sell products such as clothes, shoes, bags, watches, and jewelry. However, the company has been struggling to compete with larger, more established retailers and has seen a decline in sales over the past few years.

Background:

The company was founded by Judy and Louis West, a married couple who had a passion for fashion and saw an opportunity to bring a more sophisticated and high-end clothing and accessories store to their local area.

They opened their first store in a high-end shopping mall and quickly gained a loyal customer base, thanks to their carefully curated selection of products and personalized customer service.

Over the next several years, they opened two more stores in other affluent areas, but struggled to replicate the success of their first store.

In recent years, the company has seen a decline in sales due to increased competition from larger retailers and the rise of online shopping.

Questions:

1. What are some of the specific challenges facing XYZ Retail Company?

2. How can the company differentiate itself from larger retailers and improve its competitive position?

3. What specific steps can the company take to improve its online presence and reach a wider customer base?

4. How can the company leverage its reputation for personalized customer service to drive-sales and customer loyalty?

Reference no: EM133352597

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