Good question. The answer is many. Firstly, in my own case I was able to put my name above the door and link it to the area that I was trading in. Secondly, I was able to select the entirety of my stock offer with no reference to a central multiple management source and provide services that I thought were missing locally. Part of this involved things like selling concert tickets for local promoters, selling the produce of local bands and the like. Scale-outs are common with Multiples but I used my individual expertise and local knowledge to good effect. Local businesses are also not fixated with targets and margins. They can introduce different forms of criteria into the pot and this might even include things that have nothing to do with business but provide a social capital. Most importantly, decision making can be quick and decisive. Whilst major chain stores can do many/most/all of the things that local sellers actually do, they usually don't. I introduced a form of barter into my business equation allowing customers to part-exchange media product against new items, opted to deliver items in the area, created loyalty schemes and car parking initiatives, even opted to talk in local schools to aspiring entrepreneurs about business.
The point about this is that Multiples rarely factor stuff like this into their offer
I forgot which book it was; the idea was that localization and personalized services are probably more beneficial than globalization.
Don't generalize ...
You remind me when I studied the business orientation: client, market or product?
Theoretically the dimension of the business increases passing from C to M to P.
It's not said in reality.
It's the same about the independent retailers. They seem to be destined to die, anyway in some economical contexts they survive very well.
Italy, for example.
In our country there are many little municipalities not so easy to reach where the chain stores are not interested to invest.
This leaves a lot of room for independent retailers. But also where there are chain stores, Italians can prefer direct retailers, overall if they offer local high quality products [regardless the price: Italians want to eat and drink well!].
Let's talk about our brief stay in Marcon and old town Venezia (and a few islands):
In the old town of Venice (or Venezia in Italian), most of the shops (if I recall correctly) were local businesses.
Marcon is a modern town near Venezia; we did not venture off that far from Antony Palace hotel and ate at Bavaria fest.
I recalled that they had goose pizza on menu. How common is eating goose in Italy?
This was probably the mall we visited there:
https://www.valecenter.it/
From the sheer number of reviews on google map, I speculate that Marcon is probably quite popular for tourists. (Marcon is both small in geographic size and population.)
How typical is Marcon as a town in Italy?
We had a brief trip to Murano (this only to the glass factory), Burano (a brief walk) and Torcello (a brief walk as well).
My experience with cruise ship excursions and visits to towns: these were extremely brief trips and the experience is rather swallow.