In periods of uncertainty, entrepreneurs and owners of stores are also curious about the future of retail. Due to Covid-19, sales have turned into e-commerce. However if you’d like to learn what research and company owners in business world think about this issue, you can read the article written by Cathaleen Chen on BOF under the title ‘ A touch to the physical retail.’
According to Chen, Zara-Inditex group has shut down 1200 stores in two years and Nordstorm’s announcement of shutting down 16 stores in May makes us think if retail has come to an end. Nevertheless she has written that it hasn’t come to an end but just evolved. Another research which has been done by Publicis Sapient Agency in 2018 has revealed that, although 90 % of consumers browse the products online, 46% does physical purchase. The remaining 35% use laptop and 18% use mobile phones.
Interview done last July on live BOF broadcast with G.V. Raemdonck answers this question: ‘ Once upon a time, there were people who thought merchandising has come to an end but I say that our job is to establish relationship and stores are the center fort hat. Human interaction is so powerful. I know really well that if I have no stores left tomorrow, all the relationships which I have established will also disappear.’
Finally, the most important part that attracted my attention on the article is that Warby Parker company opens stores identifying where the most online sales take place.
People trust more to the brands which have a physical store.
According to Chen, Zara-Inditex group has shut down 1200 stores in two years and Nordstorm’s announcement of shutting down 16 stores in May makes us think if retail has come to an end. Nevertheless she has written that it hasn’t come to an end but just evolved. Another research which has been done by Publicis Sapient Agency in 2018 has revealed that, although 90 % of consumers browse the products online, 46% does physical purchase. The remaining 35% use laptop and 18% use mobile phones.
Interview done last July on live BOF broadcast with G.V. Raemdonck answers this question: ‘ Once upon a time, there were people who thought merchandising has come to an end but I say that our job is to establish relationship and stores are the center fort hat. Human interaction is so powerful. I know really well that if I have no stores left tomorrow, all the relationships which I have established will also disappear.’
Finally, the most important part that attracted my attention on the article is that Warby Parker company opens stores identifying where the most online sales take place.
People trust more to the brands which have a physical store.