As we enter December, it comes time to reflect on this past
year’s retail changes. A few weeks ago we looked at a few of those changes with
regard to specific retailers, but this week we are broadening the spectrum and
looking at a trend that has been discussed in great detail over the course of
2015 (and the years preceding). Online shopping has come to dominate the
discussion of retail trends, and for good reason, but is it really taking over?
Over the last few years, online shopping has grown to become
a major player on the retail stage. Individuals are shopping online far more
often than ever before, and this, for many bricks and mortar stores, has led to
a drop in sales - sometimes small, sometimes more noticeable. It is no secret
that online shopping offers consumers convenience and a simplified method of
price comparison, but even with these conveniences, online fails to offer what
many consumer still desire - the experience.
Bricks and mortar on the way out? If anything, retailers are
now finding that having the two channels work together is the best way to up
sales - we are thinking here of the option to order online and pick up in
store. Having a physical location, offering products and services people can
actually see, and offering customer service that has people leaving the store
satisfied, is a way to differentiate - something that largely remains
unachieved through online channels.
Why all the hoopla? Sure, online is taking a chunk out of the
market, but so are physical locations. There is still a great deal of
discussion because of the competition. As we mentioned, points of differential
are what help you compete, and most of these can only be achieved on the
ground. Drawing in customers is the optimal way to boost sales, and some of the
biggest retail changes over the last few months have had more to do with this
than even downsizing or company mergers.
So, is online really taking over? Are the big retail changes
taking place indicative of this? Nope. The malls are still busy, and consumers
are still spending most of their time and money in physical stores. Will this
change in the future? Perhaps, but as it stands, it is pretty clear that bricks
and mortar stores are here for the long haul.
Are you finding it difficult to compete, whether with online
or other bricks and mortar stores? Maybe a change in direction and a strategy
to achieve differentiation is what is needed. Don’t delay. Storesupport can
help you develop a plan to get people through the doors.
Call us today at 905.847.6513.