For years, it's seemed people are claiming the outlook for physical retailers in a digital age is all doom and gloom. If malls are shrinking due to the loss of business to online competitors, how can individual stores survive? While it's true the competition is more aggressive and omnipresent than ever, that doesn't mean you don't have a big leg up in a number of key areas. From shopping for clothes to worrying about the return policy, some things are just plain easier in person and online. Don't take our word from it, check out what the experts have to say at Retail Minded:
The greatest advantage physical locations provide is good ole instant gratification. Even with express delivery, nothing beats the excitement of walking into a store and purchasing a nice accessory (Mets cap for me) and showing it off for the world to see. And I don’t even like baseball. It’s like the feeling you got when you were a kid diving into an ice cream cone on a hot, sunny day. Or that brand new, stiff pair of skates you were surprised with on your birthday which propelled you to victory on the ice rink. I know, I know, I’m reliving my childhood memories here. Hopefully you get the idea.
Secondly, the peace of mind of knowing what you’re leaving the store with fits and looks great can not be understated. All brands’ sizes run differently. I can’t recount the number of times I had to ship back merchandise, incur a cost, and then wait for the new order to arrive if I even decided to reorder from the same vendor. When all is said and done you probably end up spending more than you would at a retail store by buying and then shipping your items back.
Lastly, there’s the civic duty, yes, civic duty, we all have to support local businesses. Now, big brands need to stay afloat as well, but what greater pleasure to have than knowing you’re supporting your fellow, friendly neighbor in pursuing their dreams AND putting food on their family’s table? That’s a net gain. In today’s day and age, though, if you’re not taking advantage of omnichannel selling you’re at a big disadvantage. You’re simply limiting your reach and sales opportunity if you haven’t setup an online shop, gotten a grasp on your product/inventory— Martin Gilman, contributed to Retail Minded
mastery, and started running promotions on social media channels. It’s incredibly easy these days and almost all POS portals sync your online transactions with your retail location’s. The time is now. Get crackin’.
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