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Small specialty stores don’t need to cut prices to compete

Specialty stores do not have to engage in price cutting wars to compete with supermarkets, claims a recent study from the University of Buffalo.

The research found that customers choose specialty stores for greater access to premium products, not for low prices. Strategies focused on lowering costs impact sales in specialty stores much less than supermarket sales.

According to the study, small retailers can better increase sales by focusing on premium selection ranges, cross-category items and holiday promotions.

Read more at The University of Buffalo

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