Differentiation in the Realm of the Independent Retailer

Given the state of the economy, it is important that retailers look to incorporate stand out practices into their stores as a means of differentiation. In the past there has always been an emphasis on price, the degree of assortment, types of services offered, etc. Green retailing has become as a differentiating measure that is helping to capture demand from eco-friendly customers. Charged with the desire to differentiate their brands and find a significant increase in their ROIs, retailers are looking to a variety of methods by which they can ‘go green.’ Some retailers have adopted the cause by promoting recycling of plastic bags, selling reusable bags, and educating their customers on the importance of protecting the environment. Other retailers such as McQuade’s Marketplace have stepped out to the forefront as a green innovator and have taken ‘going green’ to an entirely new level.

According to the article, “McQuade’s puts ‘green’ in green grocer,” the independent retailer took measures this past year that allowed it to open the largest solar electric system in all of Rhode Island. “The new system will generate about 168, 200 kilowatt hours of clean energy each year which is roughly the power needed to for 10 average-sized New England homes.” Green innovations are wise to incorporate into one’s stores, for the government (along with other green advocacy groups) provides financial backing that can supplement the costs associated with the major projects. “The solar installation atop the Mystic store received a grant of more than $641,000 from the Connecticut Clean Energy Fund. The fund was created by the Connecticut legislature -- and is funded by electric ratepayers -- to promote, develop and invest in clean energy sources.” Retailers can differentiate their stores and earn new business with financial backing and the knowledge that they are aiding their environment. It’s a win win situation.

This blog was written by Katie Tretter, Cassie Wolcott, and Daniel Lee