In the past few years, we’ve seen and heard the news about retail stores closing their doors to the public. These kinds of news can lead a lot of people to believe that “retail is dead” or that the future of commerce is purely online. Sadly, most people think about the future of commerce this way.
I disagree. As a commerce-focused development agency owner, I believe that the future of commerce is a multi-channel store. A lot of retail stores went bankrupt because they failed to adapt to the latest changes and innovations in commerce and technology and how people want to shop nowadays.
I personally believe that Click-and-Mortar is the future of retail. Let me explain why.
Retail is not dead. It’s just evolving.
Retail is not dead. But the idea that the only way to sell a product is through a brick-and-mortar store is definitely dead. Retail is undergoing a transformation because most people want to have new and better ways and experiences when they shop. Unfortunately, most traditional retail stores failed to adapt to these changes and that’s why they are failing, not because technology or some monopoly pushed them out of the game.
People expect shops to be omnipresent.
Believe it or not, the idea that most people nowadays prefer to shop purely online is an idea that led many merchants to failure as well. The truth is, modern shoppers expect businesses to have multiple channels—present on both physical and virtual worlds. People want to see what a store has to offer online before they invest time and effort in experiencing and purchasing a product on their brick-and-mortar stores.
Shoppers want options.
Modern shoppers want options when it comes to purchasing their favorite products. When they have the time, they prefer to visit a retail store so they can experience and inspect a product that they are meaning to buy. If they prefer convenience, they expect shops to offer them a way to purchase products online. Shoppers want options and if you only sell through a single channel, then you are missing a lot.
Shoppers focus on experience, not just your products.
People shop because they love how they feel when they buy something. Don’t make the same mistakes bankrupt stores did. Shoppers focus on experience, not just your products, and they expect to have the same, customer-focused experience on your retail and online stores.
Click-and-Mortar is the future of commerce.
The key to succeeding in the modern world of commerce is to be where your customers are. Thinking that your customers are only present in a single channel like social media, eCommerce sites, or retail stores, is the thinking that got traditional retailers into trouble. If you are a store owner, work hard to make your business run under the click-and-mortar business model so you can be truly omnipresent.
Traditional retail is dead and modern, omnipresent stores are winning the hearts of most shoppers in today’s modern world of commerce. Failing to adapt to this increasing trend of how people shop results to bankruptcy and store closure.