Consumers need a method to distinguish between offline and online merchants. Look at Walmart; for example, you can shop online but get a completely different experience in person. Therefore, the term “brick and mortar” is often employed in today’s digital environment.
While the demand for online shopping is rising and physical store footfall is declining, there are plenty of opportunities for a physical presence if you use a suitable business model. For example, outlets like grocery stores that give shoppers instant access to what they need are suitable for brick-and-mortar stores.
On the way to the local mall, something odd happened. The alleged assassin, a pure e-commerce play, saw the significance of a physical location. These pure plays spot this potential by keeping an eye on consumer trends, listening to what their customers want, and learning from the mistakes of their competitors and others.
Amazon is the most well-known e-commerce pure-play, and it’s the firm that brick-and-mortar merchants refer to as the reason their stores are failing. Pure plays, ironically, are the ones that are expanding into the physical world. Amazon bookstores have seven locations open, with another six on the way.
Jet.com, an Amazon competitor now purchased by Walmart, teamed with the New York City retail business Story to establish a temporary produce store within the Story store. While Walmart is hardly a newcomer to the physical world, Jet.com is. Before being bought by Walmart, it was an e-commerce pure-play that contemplated this in-store model. Pop-up stores are being experimented with by online-only merchants like ELOQUII, which has made its pop-up permanent due to high client demand. It is part of a strategy to introduce new customers to the fashion brand by allowing them to try on clothing.
Why is this shift from online to offline taking place? Because despite what you may have heard, there is still a demand for physical storefronts. In 2016, offline sales accounted for 92% of total retail sales. Why are we so eager to dismiss brick-and-mortar retailers, yet they account for 92% of sales? Take online stores Bonobos and Warby Parker, for example. They’ve opened many retail outlets across the United States, even though they sell nothing. They’ve successfully combined online and in-store shopping.
The Evolving Store Meets the Evolving Customer
There will be no going back to when a trader had to clear an entire city block to set up shop. Smaller stores are becoming more popular. The smaller size enables more direct client engagement, improving the overall customer experience. Store personnel have more power over a customer’s purchasing experience and can establish a human connection between the brand and the customer. They can listen, engage, and learn about the wants and needs of customers. They can give suggestions and respond to clients’ questions and concerns. Consumers desire all these parts of the shopping experience, regardless of how they shop.
Consumers prefer the convenience of internet purchasing, but they still want the experience that only physical stores can deliver. The immediacy of obtaining the product is the number one reason they choose to shop in-store rather than online. The ability to touch and take a product home and the physical browsing process is among the top reasons people prefer to purchase in-store.
Consumers can get All these Products
s from physical stores. They can engage, listen, and respond quickly. While online shops like Amazon have attempted similar services, they know that human interaction and the desire to purchase in person still exist in today’s always-connected society.
E-commerce Retailers have an Advantage
When you make an online purchase, you must provide a physical address. It provides the retailer with valuable information on where to open a store. E-commerce firms that open physical locations benefit from several factors, including current consumer data. They know where their customer bases are dense. They also have the following essential data: They know which clusters spend the most money — and on which things. It allows a store to select a strategic location and stock more precisely with the things most likely to sell.
Another benefit of internet shops is a clear picture of what isn’t working. They can gain knowledge from others. They understand that they don’t have to go big or go home regarding floor space. They’ve probably realized that too much physical inventory can stymie a shopper’s decision-making. They can include popular technologies in their business, such as free Wi-Fi or touchscreen assistance. They can plan to buy online and pick up in-store, buy in-store and ship to home, and in-store returns for online purchases from the start.
These are all conveniences consumers expect – and they help drive in-store traffic.Is brick-and-mortar becoming better than ever? From a consumer standpoint, it is very well, maybe. Online retailers are in a great position to know what their customers want and, just as importantly, what they don’t want. Because of this knowledge, they are uniquely positioned to create an engaging consumer experience in the brick-and-mortar world. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.