{"id":6578,"date":"2020-03-05T10:16:52","date_gmt":"2020-03-05T08:16:52","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=6578"},"modified":"2020-03-05T10:16:55","modified_gmt":"2020-03-05T08:16:55","slug":"online-shopping-is-eating-retail","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/online-shopping-is-eating-retail\/","title":{"rendered":"Online shopping is eating retail"},"content":{"rendered":"
\"Online<\/div>\n

Online shopping is eating retail<\/h3>\n\n\n\n

The decline of brick-and-mortar retail in America has been well documented: U.S. merchants are closing thousands of stores each year, and the long list of retailers that went bankrupt in 2019<\/a> includes everyone from luxury candy makers to flower delivery companies.<\/p>\n\n\n\n

Though the apparent magnitude of the sector\u2019s decline might be shocking, its cause is abundantly clear. Online shoppin<\/a>g is eating retail. This is evidenced by the stark increase in what the average U.S. household spends online in a year \u2014 $5,200 in 2018. That\u2019s an almost\u00a050%<\/a>\u00a0uptick compared to 2013, according to UBS.<\/p>\n\n\n\n

If you\u2019re the owner of one or more of these stores, what are you to do?<\/p>\n\n\n\n

\"Online<\/figure>\n\n\n\n

Survivor Mode<\/strong><\/p>\n\n\n\n

You likely know the old saying \u201cIf you can\u2019t beat them \u2013 join them.\u201d It certainly applies here. That\u2019s not to say you should take your operation completely online; you\u2019ll still have competition there. Chin up. As the owner of a physical store, you actually have a few things going for you.<\/p>\n\n\n\n

For one, even though Millennials, currently the largest U.S. consumer group, make most of their purchases online, they do still buy in-store\u00a040%<\/a>\u00a0of the time, which is no small number.<\/p>\n\n\n\n

And secondly, when shopping for items like apparel or furniture, there are obvious advantages to first seeing merchandise in person. Thirdly, your retail space also gives you opportunities to hold events and promotions that wouldn\u2019t be possible if your only storefront was digital.<\/p>\n\n\n\n

Furthermore, 71% of customers who shopped in-store spent $50 or more compared to only 54% of customers who spent more than $50 when they shopped online, according to a\u00a0First Insight study<\/a>.<\/p>\n\n\n\n

Here are three ways to start:<\/p>\n\n\n\n

1. Don\u2019t fear digital channels \u2014 embrace them.<\/strong><\/p>\n\n\n\n

2. Create an interactive experience.<\/strong><\/p>\n\n\n\n

3. Personalize in-store experiences with data.<\/strong><\/p>\n\n\n\n

Read more: https:\/\/www.forbes.com\/sites\/rhettpower\/2020\/03\/01\/how-to-survive-as-a-physical-store-in-a-digital-world\/#4d339f618a83<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

Online shopping is eating retail The decline of brick-and-mortar retail in America has been well documented: U.S. merchants are closing thousands of stores each year, and the long list of retailers that went bankrupt in 2019 includes everyone from luxury candy makers to flower delivery companies. Though the apparent magnitude of the sector\u2019s decline might be shocking, […]<\/p>\n","protected":false},"author":3,"featured_media":6581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[2],"tags":[31,366,7,128],"class_list":["post-6578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-marketing","tag-business","tag-digital-brand","tag-e-marketing","tag-online-shopping"],"yoast_head":"\nDazzlepop | Online shopping is eating retail<\/title>\n<meta name=\"description\" content=\"Online shopping is eating retail The decline of brick-and-mortar retail in America has been well documented: U.S. merchants are closing thousands of stores\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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