RetailNext: Brick and Mortar is Still Essential
March 17, 2017
The latest Retail Performance Pulse report from Internet of Things in-store analytics specialist RetailNext indicates that despite an ongoing decrease in bricks-and-mortar sales, retail stores are still vital to brand success.
“Retail stores are not dead. The retailers who continue to embrace change in their business models will be well positioned for today and in the future,” says Shelley E. Kohan, vice president of retail consulting at RetailNext. “Before the internet, it made sense for brands to expand their physical presence into new and underserved markets, but with digital shopping behaviors firmly established, many brands in the United States are crippled with too many stores and too much space. It’s critical for stores to be reinvented in order to blend seamlessly with a brand’s established digital touchpoints.”
The report also notes that ecommerce brands such as Warby Parker, Bonobos, and even Amazon have embarked into retail territory.
“This is not a case of ‘build it and they will come,’” Kohan adds. “Instead of opening stores in areas where traffic needs to be driven, brands should invest in building out attractive stores in areas that already have high traffic. Use the traffic-driving budget instead to deliver an exceptional in-store shopping experience and market toward shopper retention and loyalty.”
Expanded Hershey’s Chocolate Returns to Times Square
December 15, 2017 • Retail
The newly expanded Hershey’s Chocolate World Times Square Attraction has arrived in the heart of New York.
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