Let’s start with the reality first – online business is not going anywhere with more and more customers are shopping on the web and this has leads to some speculation about where this scenario is leading the physical retail spaces. Some major news about bigshot brands like BHS in the UK and Macy either collapsing completely or shuttering their stores is painting a negative picture.
But then, if the retail spaces are in such bad condition and are actually on the verge of extinction then why is AMAZON, who is considered an ecommerce giant is working day and night to open his physical stores in different parts of the world? And why have other international brands who were available only online, like – Warby Parker and Birchbox has seen profits with physical presence and has made the jump to offline?
It is true that it is hard to beat the ecommerce and it is for shoppers who know what exactly they are looking for and at what price BUT physical retail spaces still involve a significant position in the shopping mix, read further to know why?
Retail stores increases visibility
It’s simple for anybody to have a website and start a new business, however it’s significantly more of a test to launch an all-equipped physical business store. And not many brands have that courage but the fact is a physical space is an extraordinary way to get through the clamor, showcase your stuff and caliber before shoppers and keep it there.
Smart and bigshot brands are progressively seeing their physical stores as an approach to market to and engagebuyers. With billboard you will achieve a short-lived visibility,yet a retail store offers a much extensive visibility while also having the pros of being appealing, interactive and generating revenue. Nothing can beat the benefits of being able to see, touch, feel and smell the product that a buyer is considering for his next purchase.
A physical store can be viewed as an indication of reputability, giving customers a sense of security (especially when there is drastic increase in online frauds).
Retail space’s experience cannot be replicated
As pointed out by amazon’s spokesperson, “The world’s most known and celebrated brands offer an experience and a feeling.” Although AI and VRare making extraordinary steps, so far nothing can beat the real-life experience of shopping in a retail space.
The brands, big or small create a brand experience, which is absolutely exclusive, irreplaceable and unforgettable. For instance – Retail spaces in Noida, these are newly designed spaces where the shoppers want to come repeatedly and spend time in.
Stores know the art of selling
Still, the physical stores make the most sales for their brands. However, they don’t simply make the kind of offers that you may likewise get online. For one, the retail stores are the major source of discovery for shoppers. If you want to buy some technical product and you are in need of guidance then shopping from a physical store would be great, as staff will guide you through its specifications and functionality. Also, at times browsing online becomes a never-ending and tiresome process. Customers are also less likely to get info about new products, as they browse the same product line over and over again.
In comparison, retail spaces are an incredible way to acquaint shoppers with new ideas and offerings, which means engaging customers and encouraging them to purchase more. A common example is – shopping at a supermarket, it happens with everyone; you go there with a list but you end up buying extra stuff because you just find them or they are new additions to the product you are already using.
Yet another type of sale that retail spaces are known for include expensive and less frequent product purchases, like refrigerators, TV, microwave, etc. With such items, customers want to be doubly sure and thus does not hesitate to spend enough time going through its specifications, all they want is the right choice and a great deal. They want someone to resolve their doubts and queries, which is possible only while shopping in a retail store.
Another benefit for brands is, having a physical presence kind of boost their online sales. People may select a product through a retail store but they prefer buying from an online store because of discount or delivery option. Hence, both online and offline presence complement each other and benefits the brand.
Stores matter more than ever
To put it plainly, no other sales channel or communication can beat the physical presence of a brand. In addition to the fact that they make deals, they likewise help segregate brands,breathe life into them in new ways, increase visibility, offer unique brand experience and all that while supporting other sales channelsas a major aspect of an omnichannel system.
Most of all, retail stores develop direct, significant and full relationships with shoppers, which are the ultimate goals of any retailers.