BizSugar.com › Marketing › Is now the time to widen your retail niche -- or narrow it?

It's times like these that retailers panic. They expect, or have experienced, a turndown in sales and are trying to figure out how to broaden their market to increase sales. But is this the best strategy during a recession? This article covers this question and provides other ways to increase sales during a downturn.

Here's a quote: "A small independent store has to have a niche, has to be known for something, because you simply can't compete with the bigger stores in things like pricing and advertising," says Bob Ferraraccio, former director of retail sales for Hershey, who now counsels business owners through the Service Corps of Retired Executives in Ft. Myers, Fla.

"Define your niche. It could be something like an exclusive line of shoes, a special line of jewelry, or a designer label that's hard to get," he says.