A boutique is a kind of retail store that specializes in a particular niche of products. It is very different from other retail stores that are based on its limited inventory, limited size as well as scope. When it comes to the operation of a retail business, it is crucial that here is clear understanding of the strengths of the business, the demand in the market for the products and the distinct attributes.
The Size of the Business
The significant difference between a boutique and any conventional retail store is the very size of the shop. Boutiques are usually smaller in size with a general retail merchandiser and are compared the big-box retailers. They generally take up smaller spaces in strip plazas, malls or shopping complexes. They very rarely have standalone operations. In comparison, the bigger larger chain stores have a lot more flexibility in terms of location and have a lot more space where in to sell.
Levels of Inventory
The main characteristic of a boutique is restrained product variety. The amount of categories of product in which you deal in is termed variety. Usually, the general merchandise retailers have a pretty wide variety For example; Wal-mart, Target, and other such discounters have a number of product departments. A boutique, on the other hand, will specialize only in a very limited number of services and product categories. A specialty boots or sandals shop will only sell that specific kind of product. Boutiques will generally have a pretty deep assortment of a specific product in relation to the bigger retail stores. But the larger retailers generally also have a large choice.
Product versus Company Passion
Even though certain company managers, employees and owners can have a specific passion for the product or company in any kind of retailer, a boutique is usually a shop that usually has the product passion of the founder. A retailer with a broad base is usually started by a person who has the desire to go into business in order to pursue entrepreneurial dreams. A founder of a boutique on the other hand usually crafts or places orders of niche uses and goods the boutique as an outlet to change that passion into a profit reaping business.
Types of Products
You can make a boutique under a number of product categories, apparel retailers and fashion retailers generally tend to choose this store format. Companies that market mass-merchandised goods generally would like to get more floor space to display their goods. Category specialists are usually bigger retailers who expertise in certain product categories, but have a much larger place and a lot more assortments that the boutiques. Boutiques are perfect for apparel or fashion categories as there are high end buyers who would like customization or one-of kind styles.