I have been debating with a few people on social media regarding is Retail a Dead industry.
#RETAIL IS NOT DEAD
I created this platform to express opinions of my own thoughts that I develop from pure observation. Working in the Fashion Industry as well as the Retail Sector for over 10 years I have heard chatter that Amazon is the reason retail store sales are not what they used to be. (Before COVID-19) I always disagreed…
If Amazon is the reason Retail is dead then they would not have acquired Whole Foods Market in 2017! Like other e-commerce based brands, Warby Parker, Casper, Everlane, Untuckit, Peloton and let’s not forget Amazon 4-Star. Digitally Native Brands that have been very successful selling and managing an e-commerce business will eventually need a free-standing brick and mortar store to expand their business.
One positive from brick and mortar is the instant human touch and feel. Unless old school scratch and sniff becomes available online then humans will need to physically walk into stores. Not all humans will have the need to go into a physical store but from my experience for the last-minute shopper flying out in less than 8 hours and for those individuals that have not tried on their clothes in a long time. To realize the garment does not fit 🙈
It may be an end to big-box retailers with thousands of square feet of retail space like Sears, Macy’s, Toy’s R Us, and JCrew. But not the retail sector. Retail is not the same from before the .com. Like every industry, evolution has a huge impact on the business model.
Walmart and Target are doing well during COVID-19 for several reasons, they are considered an “essential business” They sell multiple categories and their user-friendly website and app is AMAZING!
Brick and mortar stores need to restructure their physical store square footage becoming more boutique and intimate environment. Become creative and innovative on how they communicate and sell to their consumer.
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