When You Stop Growing, You Start Dying
With the rise of eCommerce, many retailers feel threatened by what may happen in the future. Countless companies have chosen to not keep up with their evolving spaces and have not survived. DSW, the shoe company, is adjusting their approach to compete with online retailers by bringing the main focus back to their brick and mortar stores.
DSW Doubles Down On Core Competencies
By shifting their focus away from online retail, DSW is implementing a beginning-to-end shoe experience for their patrons. Starting with pedicures and ending with shoe repairs, the retailer is trying to add value to the consumer by enhancing the entire shoe experience. The goal of this new “luxury” in-store experience is to encourage more people to walk in for one of the offered services and then walk out with a new purchase. This is currently being tested in Columbus, Ohio and the store is seeing a lot of success.
Improve the Small Business Experience
DSW teaches us that business owners need to continuously explore new approaches to grow. If you’re not trying to find a new way to keep customers coming in the door, you’re business is not likely to survive. In order to adapt, you don’t have to change completely, find how to make coming into your business great for current customers. People still value great customer service and your business should cater to every type of customer that supports your brand.
The future of shopping doesn’t have to be one or the other: online or in-person. A balance between online and in-person leaves room for both worlds. Coexisting may look different in twenty years, but for now, we can learn from DSW and challenge ourselves to find more ways to grow our businesses. If you’re not adapting or growing, you’re dying.
Want weekly blog and social media updates from FortisPay? Opt-in to our newsletter: learnmore.fortispayments.com/subscribe/