They just don’t know any better and they’re the ones Seth is talking about here.
They don’t know that you’re supposed to dominate your industry and they are supposed to respect your dominance just because your daddy or great-grandpappy started your business 50 or 100 years ago.
They don’t know that they are supposed to adhere to 2, 20, or 200 year old rules that rule your market for reasons no one can remember, much less explain.
All they know is…they can do it better. And without all your baggage.
That’ll be $40 for 2 bags, sir.
But…not all of them have that baggage. Some see past what everyone else is doing.
Like Toys ‘R Us. Yeah, a nationwide box store.
We’ve talked about how the CPSIA has dealt a tough hand to small lot, one-of-a-kind (OOAK) and handcrafted manufacturers of toys and childrens’ clothes (and a zillion other things for kids under 12).
Most of the noise has come from small businesses, even though the big stores have to deal with it too. They have some upside vs the little guy because their lot sizes are large and they can wield power with suppliers. (Or they’re like Mattel and get an exemption…but we won’t talk about that today)
Despite all the inane things that a lot of these big chains do, this one was different.
They were smart enough to do this.
Most big box stores don’t have the brass to do that.
Be different AND better
For example, when most big box office stores have a big sale whose volume is controlled by how much stuff you can cram into a sack, they exclude a bunch of stuff – usually expensive stuff. And they only let you have one bag.
Guess if I wanted to buy enough expensive stuff to fill 10 bags that might tick em off? I guess I’ll just get it somewhere else.
If they had a trade-in sale, they’d normally limit it to 1 item and require purchase from a specific list of replacement items.
Not Toys ‘R Us.Â Their trade-in event appears to have no limits.
Just like those 3 kids who just decided to start a company…in your market.