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The Coexistence of Big Box and Small Retail Relies on Synergistic Relationships

Big box retailers and small local businesses can coexist successfully through mutually beneficial partnerships. By embracing their differences and maintaining their individual strengths, these retail formats can collaborate rather than compete. This synergistic relationship helps both entities thrive, providing value to their respective customer bases.

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By Mansur Khamitov, Ph.D. · · Big BoxDr. Mansur KhamitovExperts TalkIndiana University
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Key takeaways

01

Big box and small retail can thrive through partnerships.

02

Retail formats should embrace their differences for mutual benefit.

03

Synergistic relationships enhance business strengths.

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Despite being long time competitors, big box retailers and small local businesses can both coexist in ways that benefit the other. Of course, both retail formats are different but by maintaining their core business models, the two can bank and leverage their strengths and still be open to synergistic relationships.

During an episode of Experts Talk for a roundtable segment focusing on the state of big box stores and small retail, Dr. Mansur Khamitov, Assistant Professor at Indiana University, detailed exactly why there is a necessity for these entities to coexist and learn from each other, focusing on agility and personalization.

"So in many ways they just have to, coexist … and play into their strengths, but at the same time, stay agile, stay nimble, and learn from the other format," Khamitov said.

So in many ways they just have to, coexist … and play into their strengths, but at the same time, stay agile, stay nimble, and learn from the other format.
— Dr. Mansur Khamitov, Assistant Professor at Indiana University

Video TranscriptExpand ↓

Like, it almost, is some kind of a stereotype that it has to be either or and that there has to be an antagonistic relationship with between big box retailers and some of these local smaller businesses, but it absolutely doesn't have to be that way. In fact, in many ways, they're pretty complimentary and some of the things like we talk about personalization and customization and having that, you know, really nice approach is something that smaller local businesses are kind of, on average, much better at. But at the same time, there are other benefits of big box, retailers when it comes to experiential, and when it comes to, again, this, scale and mass approach. So in many ways, they just have to, coexist. So I like the term coexist and, play into their strengths, but at the same time, stay agile, stay nimble, and, learn from from the other format.

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