Introduction:
You’ve probably heard the reports that brick-and-mortar retail is dying. With the rise of ecommerce giants like Amazon, why would anyone bother going to an actual store anymore? Well, it turns out traditional retail isn’t dead. In fact, many stores are making a comeback by enhancing the in-store experience. They’re realizing that online shopping simply can’t replace the experience of browsing merchandise in person.
Stores are doubling down on what they do best – creating an enjoyable shopping atmosphere, curating products, and providing helpful customer service. They’re giving you more reasons to walk through their doors again. Through innovative store designs, exclusive products, and community events, retailers are successfully coaxing people off their couches and back into stores.
So don’t believe the hype that in-store shopping is going extinct. Stores are adapting to changes in the retail landscape and finding ways to stay relevant. They recognize that while ecommerce has its place, there’s still something irreplaceable about an engaging trip to your favorite shop. Brick-and-mortar stores are strategizing a resurgence, and they have no plans of going away anytime soon.
Table of Contents:
- The Decline of Brick-and-Mortar Retail
- Why People Still Prefer Shopping in-Store?
- How Stores Are Adapting to Changing Consumer Behavior?
- Experiential Retail – The Future of Physical Stores
- Omnichannel Retail: Blending Online and Offline Shopping
The Decline of Brick-and-Mortar Retail
It’s no secret that traditional brick-and-mortar stores have been struggling in recent years. According to studies, only 44 percent of shoppers on average buy most of their grocery items from physical stores today, down a whopping 29 percent from just last year. Overall spending at brick-and-mortar stores is projected to drop 14 percent this year to $4.18 trillion. Department stores in particular have seen a 4.8 percent decline.
The Move to E-Commerce
A big reason for the downturn is the rise of e-commerce. Online shopping offers convenience and lower prices that physical stores have a hard time matching. Rather than driving to a store, finding parking, and navigating crowded aisles, you can shop from anywhere using your laptop, tablet or phone. E-commerce giants frequently offer the lowest prices and quickest delivery.
Stores Adapt to Compete
However, brick-and-mortar stores are adapting to win back customers. Many now offer same-day delivery and curbside pickup for online orders. They’ve improved mobile apps and email campaigns to better engage shoppers. Some stores have added entertainment like bars, restaurants and event spaces.
Physical stores still have advantages over e-commerce. You can see, touch and try on products. Impulse purchases are more likely. And some people simply enjoy the experience of shopping in a store.
While e-commerce will likely continue growing, brick-and-mortar stores that adapt to customers’ needs and emphasize their advantages have a fighting chance to thrive. By enhancing convenience, value and experience, stores can coexist in harmony with online retailers. The future of retail is omnichannel.
Why People Still Prefer Shopping in-Store?
Ever wonder why people still flock to stores when it’s often easier (and cheaper!) to shop online? Turns out, physical stores offer some benefits that ecommerce just can’t match.
Convenience and Immediacy
Sometimes you need something right now. Whether it’s a gift for that birthday party tomorrow or ingredients for tonight’s dinner, stores let you walk in, grab what you need, and walk out. No waiting for shipping or pickup.
Seeing, Feeling, and Trying Before Buying
Certain products just need to be experienced in person. You want to test that new mattress, see how those jeans actually fit, or check how sturdy that bookshelf is. In stores, you can thoroughly inspect items and even try them on or test them out.
Expert Guidance
Knowledgeable store staff can provide recommendations and advice to help you make the best choice. They’re also there if you have any questions about a product. Some stores even offer custom styling and tailoring services to ensure the perfect fit.
Ambiance and Experience
For some, shopping in stores is an enjoyable social activity and experience. You can grab coffee or food with friends, listen to music, benefit from air conditioning on a hot day, and soak in the ambiance. It’s a chance to get out and engage with the community.
While online shopping will likely continue growing, stores still fill important needs. For immediacy, sensory experience, service, and enjoyment, brick-and-mortar retailers have digital beat. And that’s why they’ll be winning back customers for years to come.
How Stores Are Adapting to Changing Consumer Behavior?
These days, shopping in physical stores needs to offer an experience that can’t be replicated online. Brick-and-mortar retailers have adapted by focusing on convenience, personalization and experiences.
Convenience and Efficiency
Stores are optimizing layouts and checkout to minimize hassle. Self-checkout lanes and mobile pay options speed up the paying process. Curbside pickup means you can shop online and have items brought right to your car.
Some stores now offer delivery within a couple hours of ordering either for free or a small fee. This “instant gratification” can beat waiting days for an online order to arrive.
Personalized Service
Employees are highly trained to provide personalized recommendations and styling advice. Dressing rooms have become “personal styling suites” with dedicated staff to help select items.
Data from loyalty programs, online browsing and in-store purchases allows stores to customize offers and tailor the experience for individual shoppers.
Experiences
It’s not just about buying things anymore but creating memorable experiences. Events, tastings, workshops and pop-up shops give people reasons to visit stores.
Some stores have added restaurants, bars, lounges and live music to become a social destination. Others have turned shopping into an interactive game or escape room-style challenge.
Beauty stores offer makeovers, skincare clinics and fragrance sampling. Sporting goods stores host athlete appearances, product demos and sports camps for kids.
The future of in-store retail depends on continually optimizing operations, using data and technology to personalize, and crafting engaging shopping experiences worth leaving the house for. When done right, physical stores can thrive alongside e-commerce.
Experiential Retail: The Future of Physical Stores
Physical stores are making a comeback by focusing on experience. As e-commerce has largely taken over convenience and price, brick-and-mortar retailers are doubling down on engagement and community to bring customers back through their doors.
Experiential Retail – The Future of Physical Stores
Forward-thinking stores are tapping into customers’ desire for meaningful interactions and shareable moments. They’re designing spaces that inspire, educate and entertain.
- Pop-up shops and short-term leases give brands a chance to create highly curated, “Instagrammable” environments. These temporary “retailtainment” spaces generate major hype and FOMO.
- In-store events like classes, workshops and product demos give customers hands-on brand experiences they can’t get online. Things like cocktail-making courses at liquor stores or gardening workshops at plant nurseries.
- Digital integration enhances the in-store experience. Virtual or augmented reality, touchscreen displays, and mobile apps engage customers in an interactive way. They can visualize products in their home or access extra info and recommendations.
- Lounges, cafes and full-service restaurants encourage customers to linger and socialize. They transform the store into a community space where people want to hang out, not just shop.
- Personalized customer service and styling options make people feel valued. Things like custom fragrance blending, personalized product or gift recommendations based on interests.
- A curated, inspirational product selection gives customers a sense of discovery. Carefully merchandised displays of unique, local or handcrafted goods they won’t find anywhere else.
The resurgence of brick-and-mortar stores shows that human connection and memorable experiences are vital. By focusing on community, discovery and engagement, retailers are giving customers compelling reasons to shop in person again. The store of the future is all about interactive “retailtainment”, personalization, and social spaces where people actually want to spend time. What was once seen as an inconvenience is now an opportunity for inspiration.
Omnichannel Retail: Blending Online and Offline Shopping
These days, many customers want the best of both worlds—the convenience of online shopping combined with the experience of browsing in a physical store. This blend of digital and in-person retail, known as omnichannel commerce, is allowing stores to win back customers.
Seamless Experience Across Channels
An omnichannel approach provides a seamless experience across your online store, mobile app, and physical locations. For example, many stores now offer options like buying online, pick up in-store or buying in-store, or shipping to home. Customers can browse products on the website or app, then go to their local store to view, try on or pick up the items. Or they can shop in the store and have their purchases shipped directly to their home. These flexible fulfillment options reduce hassle and encourage more shopping.
Personalized Service
While online shopping is convenient, it lacks the personalized service you get in a physical store. With omnichannel retail, stores can use data from your online and mobile interactions to provide customized recommendations and assistance when you shop in person. Store associates have access to your purchase history and preferences so they can suggest items you might like and ensure you get a consistent experience every time you shop, whether on the web, mobile or in the store.
Experience-Driven Stores
Some stores are optimizing their physical locations to focus on engaging experiences that you can’t get online. They’re incorporating interactive technology, hosting events, providing entertainment, and making the store a social destination. An exciting in-store experience gives customers a reason to shop in person versus just shopping on their phones. And it fosters social connections between shoppers that build loyalty and turn stores into community hubs.
By integrating their digital and physical channels into an omnichannel whole, retailers are able to highlight the strengths of each while providing customers with a seamless, customized experience—and a reason to shop in stores again. With the right blend of online convenience and in-person engagement, physical stores are proving they’re still relevant in today’s digital world.
Conclusion
So, despite the rise of ecommerce, brick-and-mortar stores are here to stay. Retailers have realized that to compete, they need to give customers experiences they can’t get online. The next time you go to the mall, notice how much more engaging stores have become. They’re stepping up their game to draw you in and keep you coming back.
While online shopping will continue to grow, physical stores fill other needs. They’re places to discover, interact, and connect with others in your community. So, get out there and shop like it’s 1999—you might just rediscover the joy of browsing store aisles and find some hidden gems along the way. Stores are ready to welcome you back with open arms and a revamped experience you never knew you were missing.
At Vndit, we constantly monitor new trends and actively provide small and medium-sized retailers with the necessary tools to achieve operational efficiency and retail excellence.
If you are thinking about moving to the next phase, you might consider partnering with us to upscale your operations environment.
