New age shopping
Are physical apparel stores bound to become obsolete?
As consumers continue to prefer online shopping, brick and mortar stores continue to disappear.
Online shopping
It seems that every week a new store closes its doors. Just this year Bebe and Wet Seal officially closed all of their shops while major retailers like Macy’s and Sears began downsizing. Word is spreading that malls may soon become a thing of the past, as most people find everything they need from the convenience of their own homes.
E-commerce websites have taken over as the go-to places to buy whatever you need.
Initially they were great for books and electronics. Most retail stores felt they had nothing to worry about since people were more hesitant to purchase clothing online without the chance to try it on first.
However, in the past few years online shopping has simplified.
Many channels offer perks like free shipping and easy return policies that has caused this surge in buying apparel online. In fact, as of this year the apparel and accessories category actually accounts for 17% of total online spending.
Crossover
As online sales increase, many brick and mortar retailers are questioning their future existence. With the high costs of keeping a physical location open, why not switch to the online market? Most retailers have expanded their services to include an online shop in order to compromise.
However to stay afloat, stores need to offer more versatile opportunities that make people want to visit.
Online shopping is already easy, and with new technological advancements being made every day, it will only grow easier. Just look at the success Amazon has gained in such a short span of time.
They have conquered the ecommerce game so much that they are actually going back to brick and mortar. Amazon also announced the release of Echo Look which will have the ability to take full length photos, and perhaps even calculate measurements via camera.
The advantage for now
Luckily traditional retailers still have the upper hand. Even today they outnumber online sales 4 to 1. Even so, there is no stopping the digital spending bandwagon.
Brick and mortar stores will have to think of new strategies to keep people in the malls and off of their computers.
#OnlineShopping
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