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Find out more about your retail tribe

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retail tribe

So which retail tribe do you belong to and which retailer do you want to become? Of course, so much depends on where you are in your own life-stage – just starting out, raising a family, contemplating retirement – but one of the great things about owning your own business is that you get to decide its destiny. 

Did we get yours right? Here is a brief description of each tribe.

Experience Builders

Members of this tribe are very passionate about what they do. They are always on the go, wanting to acquire knowledge and keep up with new developments that could grow their business. They are customer orientated and pride themselves on delivering a high-quality experience to delight loyal customers. Their high customer volume and dedication to business means they are constantly juggling, trying to keep up with the fast-paced business environment that they operate in.

Main industries – cafés, restaurants, pubs, store-based retailing, fuel retailing.

Average age of business – 10 years.

Battlers

Hardworking and dedicated to each job, battlers aim to deliver a consistent level of good service every time. They have been in business for a while and wish their business would improve so they can free up their time and find a better balance between life and work. They are hoping to eventually increase their profits, or sell the business, so they can finally relax and enjoy the hard-earned fruits of their labour.

Main industries – store-based retailers, health care services, accommodation, food and beverage service.

Average age of business – 11 years.

Valuable Occasionals

In this retail tribe is a small number of businesses with relatively few but very high-value sales. The large payments they receive are often processed online or through direct bank transfer. Due to the importance of each individual transaction they prioritise security and payment guarantee above all else.

Main industries – professional/technical services, wholesaling, accommodation, store-based retailing.

Average age of business – 10 years.

Mass Retailers

Mass Retailers are business people, highly focussed and incentivised to leverage supplier relationships to maximise value and achieve growth for their shareholders. They are highly engaged, have strong knowledge of payment systems and demand more from hardware providers. They are looking for innovation and industry leadership, such as embedded loyalty offers, faster payment options and reporting.

Main industries – store-based retailing, cafés, restaurants and pubs, medical and other health care services.

Average age of business – 13 years.

Skilled Specialists

These are the solo operators, or small start-ups aiming to monetise their passions and expertise in a specific trade. The motivations behind their small-scale businesses can vary greatly, from those who want to make a living from their passion, to skill-based tradespeople, to young and agile businesses who are just starting out. The owner manages every part of the business – from IT to finance and needs to stay on top of everything in order to grow.

Main industries – auto repair and services, repair and maintenance, healthcare and personal services (beauty, hairdressing).

Average age of business – 9 years.

Small Locals

A large number of businesses are members of this retail tribe. They have a traditional approach to business in terms of how they think and operate. They’re typically smaller businesses and prefer to stick to what they know – the tried and true approach rather than strategic or long-term planning. They are often owned by people who are new to the country and bring different cultural perspectives and methods (e.g. family run) to their way of operating a business.

Main industries – cafés and restaurants, food service and retailing, store-based retailing.

Average age of business – 8 years.

So which retail tribe do you belong to and which retailer do you want to become? Of course, so much depends on where you are in your own life-stage – just starting out, raising a family, contemplating retirement – but one of the great things about owning your own business is that you get to decide its destiny.