Small-scale retailers continue to exist in spite of the dominance of large firms because they
Answer Details
Small-scale retailers continue to exist in spite of the dominance of large firms because they render personal service.
Small-scale retailers are typically independent businesses that sell goods or services directly to consumers. They often operate on a smaller scale than larger firms, such as department stores or supermarkets. While large firms may have advantages in terms of economies of scale, marketing, and access to capital, small-scale retailers have several advantages that allow them to remain competitive.
One of the main advantages of small-scale retailers is their ability to render personal service. Small retailers often develop personal relationships with their customers and provide a higher level of customer service than larger firms. This can include providing personalized recommendations, offering special deals or promotions, and addressing any concerns or complaints promptly. Personal service can create a loyal customer base, which can be a competitive advantage over larger firms that may not have the same level of personal interaction with customers.
In addition, small-scale retailers can be more flexible in their operations and may be able to adapt more quickly to changes in the market or customer preferences. They may also be able to specialize in specific goods or services, which can help them to differentiate themselves from larger firms.
In summary, small-scale retailers continue to exist in spite of the dominance of large firms because they can render personal service to their customers, which can create a loyal customer base. They can also be more flexible in their operations and may be able to specialize in specific goods or services, which can help them to differentiate themselves from larger firms.