The price of goods on Grand Cayman came down Thursday when the Cost-U-Less opened its doors at Governors Square.
It’s a welcome relief to our pocket books.
Cost-U-Less is a warehouse type operation that sells items in bulk as well as fresh produce, seafood, meat, tools, appliances and more.
Not only is it a bigger retailer offering cheaper prices and more variety, it’s in a convenient location near other shops.
Anything that can help us with the high cost of living is welcomed.
We hope that the cheaper prices reflected at the store today remain after the hype and hoopla of a grand opening during Christmas season when everyone is out shopping.
And we hope that the retailers who have been serving us faithfully for years aren’t too worried about this new mega store.
Once the newness has worn off and Cost-U-Less becomes just another link in the retail chain on Grand Cayman shoppers will probably bide their time evenly, giving every retailer a piece of their pocketbook pie.
Retailers that are worried about competition from the new store should look at this as an opportunity to think out of the box and make some positive changes that would keep or even lure more customers.
Focus on what makes your business unique and then market it through advertising in Cayman Free Press products.
Worried retailers should take an honest, hard look at their pricing.
And we all know the best place to get personal attention is at a smaller retailer.
There will still be customers who don’t want to venture to larger stores. There are some now who won’t even venture into the larger grocery stores, but prefer to make their groceries at smaller shops like Chisholm’s in North Side or Foster’s Express in East End.
In the end we think there will be a balance between customer share and the retailers.
And many people will still enjoy the quick trip to Miami or Tampa just to get away and do their shopping there.
We now have two new retail options on Grand Cayman what with the opening of Cost-U-Less and Books & Books.
It’s nice to have choices.
Now it’s up to the retailers to keep us coming back.