Here Are Reasons Why Good Stores Succeed

Since retail stores still represent about 90% of U.S. retail shopping, they are not facing imminent death (as some have predicted).

Here are two charts from eMarketer that summarize why and how physical stores retain a lot of popularity, despite consumers’ shifting shopping patterns.

First, how do stores stack up with online retailers? eMarketer notes that:

In-store offerings like easy returns and exchanges, better customer service, and instant gratification trump the online shopping experience for many shoppers, according to market research firm TrendSource.  But online shopping also had advantages, according to the survey. A majority of respondents said that product availability, as well as product variety and selection, were superior on digital platforms when compared with physical store locations.”


 
Second, eMarketer states that:

“Home improvement and fashion shoppers no longer inherently view online as cheaper. So, retailers should consider creating in-store experiences shoppers value,” TrendSource’s senior director of client and consulting services, said in a statement. Being able to get goods immediately had a strong appeal among those who preferred to make in-store purchases, according to the survey.”


 

This entry was posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer and tagged , , , , . Bookmark the permalink.

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