How Online Sales Breathe New Life into Physical Stores
While it might seem like the shift from classic storefronts to online retail is the death knell for physical locations, evidence is showing that this is not the case.
In fact, the exact opposite is true. Because consumers are demanding all channels of shopping be available to them either through their desktop, phone or at a store, retailers are actually benefitting by finding ways to integrate the unique benefits of in-store and online purchases.
In order to make this transition a success, however, there are three main rules that need to be followed.
- The absolute most important thing your store must understand is how technology enhances the in-store experience. One of the biggest mistakes is setting up an app to compete with the store itself.
- Once the technology aids the physical store, it then needs to help turn your location into a one-stop-shop. That means saving customers time while saving them money through the combination of online purchases and in-store pickup.
- Finally, remember to spend more time planning resource allocation than trying to put it in place. What may seem a benefit to you can actually turn into a financial burden if it doesn’t fix any current problem. For example, it’s smarter to spend a bit more on logistics than app development if your shipments are continuously late.
In the end, it’s about finding the balance between the old and the new so that they compliment rather than compete with one another.