Forbes

5 BIG-BOX LESSONS FOR SMALL RE­TAIL­ERS

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FALL ON­LINE: Use dig­i­tal tech to turn your store into a lo­cal ful­fill­ment cen­ter. “A vast ma­jor­ity of on­line or­ders are picked, prepped and packed at our stores,” says Tar­get CEO Brian Cor­nell. “FedEx and UPS sweep by to de­liver it the last mile.”

PICKUP ARTISTS: Take­out isn’t only for food any­more. “We had high de­mand but had to limit in-store traf­fic,” says Home De­pot CEO Craig Me­n­ear. “We started curb­side, which let us serve more cus­tomers with­out hav­ing them come into the build­ing.”

NEED FOR SPEED: Out­pace Ama­zon with same-day de­liv­ery. Dur­ing the pan­demic, Tar­get has seen sales through Shipt, a startup it bought in 2017, jump 350%. “We have over 200,000 Shipt per­sonal shop­pers across Amer­ica,” Cor­nell says. “They shop for you and bring the or­der right to your doorstep.”

CHOICE PROD­UCT: Cu­rate or cre­ate high-qual­ity and trendy things to help peo­ple shop with speed and con­fi­dence. “Tar­get has one of the top prod­uct teams in re­tail,” says Bern­stein an­a­lyst Bran­don Fletcher. “They have four brands that do around $1 bil­lion in sales that they built from scratch.”

SAFETY FIRST: Put cus­tomers at ease by en­sur­ing that ev­ery­thing is sparkling and san­i­tized. “Long be­fore the CDC was talk­ing about PPE, we were look­ing at sup­pli­ers,” says Donna Mor­ris, Wal­mart’s Chief Peo­ple Of­fi­cer. “We needed masks. We needed gloves. We needed an op­er­a­tional pro­to­col.”

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