Retail Doesn’t Have to be One-Dimensional
There is this common perception that digital and in-store retail can’t coexist. While general retailers and small businesses struggle to compete with the big box stores, their is a looming fear that eCommerce will eventually eliminate the need for physical retail altogether.
Why must only one survive?
Big online retailers like Amazon and Alibaba are moving backwards by opening brick and mortar stores. This initiative from the major eCommerce retailers shows that digital and physical shopping does not have to be separate- there is value in having both realms of shopping. “New Retail,” the idea of complete digitization of all commerce, brings technology into stores. This means that you can shop in store and online at the same time, enabling shoppers to order their size if the store doesn’t have it, or test drive a car at the click of a button.
The big question is if we can have successful online and offline experiences, how do we make that happen? As a business, we have to make whatever it is we do not have available in-store on our online store. This way, if you do not have something you are not inconveniencing your customers by making them drive to another store or losing money by sending them to a competitor.
The key to keeping traditional retail alive is by adopting the concept of new retail. New Retail gives the consumer the balance between in store and online that they want. The digitization of retail does not have to mean the end of your small business.
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