How to Keep Your Retail Business Fresh (Even in a Niche Market)
Description
Running a successful niche retail business takes more than just passion—it requires strategy, creativity, and the ability to adapt. In this episode of Retail Therapy, Bob Phibbs, The Retail Doctor, sits down with Richard Matney, owner of Board Game Paradise, to talk about the realities of running and expanding a specialty store.
Richard shares the challenges of needing space for a second location, the importance of understanding your target audience, and how he keeps his store fresh and exciting for both new and loyal customers. Bob and Richard also discuss the tools and technologies—like Manus.im and Claude.ai—that can help retailers stay competitive, and why thinking differently with AI is becoming essential in the modern marketplace.
[1:12 ] Richard introduces his business and the retail challenge he’s facing
[3:30 ] Outgrowing the first space—and finding room for a second location
[10:32 ] Knowing your target audience and designing around them
[16:28 ] Tools and platforms that can strengthen your market strategy
[19:37 ] Keeping your retail experience fresh and engaging
[28:34 ] Learning to think differently and embrace AI innovation
[33:54 ] Navigating contracts, releases, and landlord relationships
[39:33 ] Why diversification is key to long-term stability
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