The landscape of the retail industry has changed vastly ever since online shopping became more accessible. However, most companies that possess a product line and capital still choose to diversify their sales with brick and mortar (B&M) stores.
Opening a physical store is not cheap, and there are many questions that should be asked before deciding if the investment is worthwhile. Here are some key insights reflect on:
1. People, products and problems.
Online shopping sees its’ fair share of problems, especially in fashion and retail. Shoppers are unable to try out clothes before purchasing them, and sometimes end up with a disastrous product on their end. Are you able to ensure that the descriptive is enough to guarantee customer satisfaction?
Where clothes are concerned, most people opt for storefronts where they can try them out for themselves. The primary observation to make is to identify the current problem that is holding your sales back, and then consider whether a B&M store can help alleviate any or all of these issues.
2. Who? What? Where?
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