The future of the brick-and-mortar store is a hotly debated topic within retail. We believe physical stores will be relevant for decades to come, but there’s no doubt a transformation is underway. Whatever lies ahead, the following will be as true then as it is now.
- Customers are increasingly pressed for time, and retailers are in direct competition with their other interests and hobbies.
- Customers demand constant improvement – shopping should be an experience in and of itself.
- Competing on price alone doesn’t cut it.
- Retailers need to cultivate a close and personal relationship with their customers.
- A store should be customer-friendly – searching, deciding, and purchasing must be as frictionless as possible.
- Retailers must ensure their brands are expressed consistently, whether it’s online or in-person.