Are Physical Stores Really Dead?
Gloomy retail news seems to dominate the headlines, but according to RetailNext, brick-and-mortar stores are far from dead, as long as they’re willing to change with the times.
“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. Her suggestion? “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.” GP