It’s Not Just Bricks And Mortar: Online Retailers Need To Innovate, Too
I frequently write about ways to improve the in-store customer experience. And while physical retailers do have their work cut out for them to stay competitive, that doesn’t mean a digital storefront can simply sit still and collect money. Nothing, especially in retail, is ever that easy. The brick-and-mortar landscape is shifting, and retail heavyweights are getting smarter and more effective at leveraging the advantages of physical space, like brand recognition, relationship-building through customer experience, and the ability to circumvent the shipping hassle. Retail behemoths like Amazon, with its physical locations and recent purchase of Whole Foods, and Nordstrom, which made headlines last week by announcing a merch-free storefront, are poised to reshape the high-street experience. In addition to a smarter physical retail landscape, new research suggests that many young people actually prefer to shop in store. So, while e-commerce has been enjoying enormous growth, smart online retailers are anticipating how bricks and mortar will compete. It’s plausible to think that in five years time, traditional retail can reclaim and leverage experience to gain some ground in the retail ecosystem. The pendulum can swing for e-tailers that aren’t paying attention. So, how do online retailers anticipate the shift to better connect with their customers? Read more at Forbes.
