The retail landscape today looks quite different than it did a decade ago. How customers are making purchasing decisions and buying items has changed significantly.… Read More »How Retailers Are Answering the Age of Consumer-Driven Retail
brick and mortar
It’s a scary thought for many retailers. Brick and mortar retail could end, as we know it, as more people turn to the Internet to shop online. Not so, according to The State of Retail 2015 report by TimeTrade.
TimeTrade compiled a report on the state of consumer behavior, gathering details about how shoppers shop and buyers buy.
The company looked at the psychology behind in-store shopping compared to online shopping. They examined modern consumer preferences and compared these to how well brick and mortar stores will fair going forward.
The results were encouraging for brick and mortar retailers. Here are some of the highlights.
Brick and mortar retail is constantly challenged by the state of digital competition which has caused many physical retailers to fail. As more consumers turn to on-line shopping, traditional retail stores must find ways to integrate their offerings with the online experience to go beyond satisfying their customers basic needs. What can retail stores do to compete?
Is the internet stealing customers away from you? Are you ready to give up and concede that brick and mortar is basically done?
Relax – brick and mortar is not dead, you may just need to make a few adjustments to your strategy.
Brick and mortar stores are faced with fierce competition from online retailers. I’m sure you’re aware of Showrooming, where a customer checks out an item in a physical store and then goes online to make the actual purchase. Usually because they can get a better price.
This can also work the other way. Consider Webrooming, where a customer learns about an item online but then goes to a traditional brick and mortar store to make the actual purchase. This has brought the opportunity back to the traditional retailer.