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Shifting From Online To Offline Retail

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Most online small business owners are a little if not very apprehensive when talks of running an offline retail store or brick-and-mortar come around. While opening several store fronts may be a small dip in capital for major online retailers such as Zalora or Fashion Valet, the reality is that it is a costly task for regular businesses.

A question arises when a leading e-commerce company expands into physical retail: why? According to the CEO of Powell’s Books, Miriam Sontz says that book-buyers enjoy certain aspects of physical retail that online services are unable to provide.
Furthermore, there are some perks associated with brick-and-mortar retail that just doesn’t translate as well on the internet. The web sphere is a fast-paced environment where brands are unable to stand out on their own. Customers are unable to interact with merchandise, which leads to many returned purchases. For business owners, data collection is easier to discern when the people providing them aren’t anonymously browsing the web.
While the aforementioned perks can be appealing, realistically, physical retail is not an appropriate decision for every online business.
While no one understands your aims as well as you would, there are a few considerations to ponder before expanding into a brick-and-mortar storefront. Here are a few.

 

1. Location

“LOCATION, LOCATION, LOCATION!” The popular phrase has not lost it’s appeal throughout its’ decades of usage, and for a good reason. Particular cities, neighbourhoods and demographics may better suit your business model. This is where accurate customer data will assist you. Understanding who and where your customers are through purchasing trends will help you determine a suitable location for your brick-and-mortar store, and how to best approach the matter of setting up physical retail.

2. Supply & Demand
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