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John VC Weller | Oct 5, 2022

Why This Recession Is Different And The Retailer Revolution Is Certain

In 2013, after The Great Recession had begun to ease up, I wrote an article titled “The Independent Retailer Revolution That Could Change Everything” that talked about the devastating impact that the economic downturn had on the independent flooring retailer.

Looking back, I now think I wrote that article 9 years too early. What I predicted in that article is more true today than it was back then. I firmly believe we are poised to actually see an “Independent Retailer Revolution” happen over the coming months.

There are many things about today’s recession that are very different than in 2007–2009. However, there are a few similarities that (if independent retailers and suppliers are not careful) could have the same catastrophic effects on their businesses as The Great Recession did almost 15 years ago. 

The Similarities

In 2007, there was a housing bubble that had a massive impact on retailers in the builder business. That same bubble wiped out a lot of everyday people’s disposable income, which hurt retailers on every level. 

The other factor that had a profound effect on retail: shoppers started using Google to search and acquire information online before purchasing. In 2007, most independent retailers either had no website at all or a very basic one. Meanwhile, the box stores had all launched sophisticated websites and had shifted millions of dollars to advertising online. 

The void of independent retailers online coupled with the widespread adoption of the internet allowed box stores to obtain a massive market share in a very short period of time.

Today, there is a new risk for independent retailers beyond the obvious economic factors. The good news is, there is immediate help and solutions at their disposal.

The Risk 

This time there are manufacturers, distributors, and technology companies that saw this coming. And they are ready! 

This fall you will see some of the biggest manufacturers and distributors in the market, who have been working behind the scenes preparing for this moment. Some are names we are all familiar with and some are companies that will surprise people. But what is coming will be nothing short of game-changing for the retailers that partner with them.

The Imminent Independent Retailer Revolution

As I stated in my article in 2013, the combination of technology, independent retailers, and manufacturers truly working together to provide a better floor buying experience could allow independent retailers to finally take back the market share they once owned and rightfully deserve. Well, this time all the pieces are in place.

Technology
Broadlume has more than 180 employees and has invested 90 million dollars into all new technology that is set to be launched in the coming weeks. This technology will radically simplify the buying and selling of flooring.

Independent Retailers
At Broadlume, we have more than 3,000 retailers using our technology. And at FloorCon this November, we will be announcing all new technology that will empower every one of our retailers (and any retailer in the country) to completely transform the way they sell flooring.

Suppliers
I don't want to spoil the surprise but… 

There are many of the most recognized brands in the industry (including some that will surprise folks) that are armed and ready to deploy all new digital solutions in the hands of independent retailers. The box stores will not be able to compete. 

This is not hype, this is proven and already happening. 

I hope I have your attention.

If so, please join me at FloorCon 2022 as we kick off “The Independent Retailer Revolution” that will change everything.