Brick And Mortar Retail Trends

  • Whatsapp

Brick And Mortar Retail Trends – “[Summer 2020] has really driven the adoption of e-commerce for the next 10 years. We’re actually at the 2030 level from where we believe e-commerce will grow.” – Steve Hutt, Shopify

For distributors and direct-to-consumer brands, there is immense pressure to build a strong digital presence. Physical stores have struggled with COVID-19 and a tech-savvy consumer base. But the good news is that the demand for online shopping leaves plenty of room for new brands to join the digital space by moving from brick-and-mortar to e-commerce.

Brick And Mortar Retail Trends

Brick And Mortar Retail Trends

E-commerce is a subcategory of retail that empowers customers to complete purchases online rather than visiting a store in person.

E Commerce Vs. Brick & Mortar: The State Of Retail In 2021

B2B and B2C brands have been using e-commerce at a rapid pace since its inception in the 1990s. The last five years in particular have shown the largest supply-demand swing in history.

The main advantage of running an online store over a physical store is your ability to market and sell your products at a much lower cost. Brick-and-mortar stores require significant overhead to maintain. Instead, you can promote your brand easily and cheaply online.

The digital capabilities of e-commerce software also make it easy for your customers to use different payment methods.

Online stores integrate well with multiple marketing channels that allow you to reach laser specific audience segments, personalize messages/products/services and get word of mouth marketing on social media.

Retails Trends You Need To Know

Because you don’t need people to “manage” your online store, e-commerce is always open for customers to view your items and complete purchases.

Finally, e-commerce platforms allow retailers to use data to better serve their customers. Visitor activity and buying trends can provide insight into your ideal customers – their preferences, needs and frustrations. You can then leverage these insights to build meaningful relationships with prospects and personalize your products.

As a direct-to-consumer brand, you enjoy additional advantages over other retailers. Traditional retailing requires brands to use a number of middlemen to maintain their business model.

Brick And Mortar Retail Trends

DTC brands have more control over their supply chain and sales channels. They don’t need to pay intermediaries, and as a result, they can transfer these funds directly to consumers.

The Future Of Brick And Mortar Retail

DTC brands enjoy much higher leverage than their traditional counterparts. This is why it makes sense for many DTC brands to already establish a strong e-commerce presence or strengthen their physical presence in stores.

E-commerce was booming long before COVID, but the economic impact of the global pandemic has forced brands to rethink their approach.

The concept of “pandemic proofing” one’s brand often means incorporating more digital services so customers can shop without leaving the safety and comfort of their homes.

Pandemic acceleration of online retail e-commerce sales as a percentage of total retail sales in the United States*

U.s. Brick And Mortar Retail Apps See Robust 27% Growth In 2020 Despite Pandemic Headwinds

E-commerce sales continue to grow even after COVID restrictions are eased this summer (2021). Online shopping is very convenient and even allows customers to check prices from their phones while visiting a physical store in their neighborhood.

Today, most major purchases are made in person. But the rapid growth in retail depends on e-commerce brands.

Total US retail spending is projected to grow 7.9% to $.1 trillion in 2021, with increased sales for both brick-and-mortar and e-commerce.

Brick And Mortar Retail Trends

Note: Includes products or services ordered using the Internet, regardless of payment or fulfillment method; Other than travel and event tickets, payments such as bill payments, taxes or money transfers, sales of food services and beverages, and sales of gambling and other immoral goods; Brick and mortar sales do not include products or services ordered using the Internet

The Evolution Of E Commerce: Examining The Trends Shaping Online Retail And Predicting The Future Of Brick And Mortar Stores

And even in the case of large purchases that often happen in person, brands with a strong e-commerce presence can easily capture customers before their journey. High-ticket items compel people to explore their options and do their due diligence online. That’s why many brick-and-mortar retailers who prioritize their online presence experience strong in-person sales performance.

The defunct brick-and-mortar brands “went out of business with a total of 9,500 stores in 2019, which seems huge — but up to 25,000 will close permanently in 2020, mostly in shopping centers, More than 8,000 retail locations are poised for good by August 2020, Corsight Research estimates. – According to Money, 2021

The high rate of store closures continues through 2021, and the data consistently highlights brands that cannot survive without a strong e-commerce store. The combination of online shopping demand, outages and COVID-19 security concerns has proven too much for brands to push for traditional retail approaches.

Some economists were surprised to see Amazon, Walmart and Target on the list of the top 10 e-commerce retailers in 2021. But what was surprising was the number of new brick-and-mortar retailers joining the list.

Top Retail Trends For 2023 & Beyond

Note: Represents the total value of products or services sold on each listed company’s website (via browser or app), regardless of payment or fulfillment method

Forbes notes that Insider Intelligence’s top 10 list (see above) does not include already top-selling brands like Macy’s, and that the common denominator in all brands’ decline is due to their weak online strategies. Meanwhile, new top 10 brands like Wayfair and Costco have invested heavily in online sales and other e-commerce features like curbside pickup and social commerce over the past few years.

Retailers not included in this list that have also experienced significant growth since 2020 attribute their success to increased online presence and virtual personalization features. Niki is a prime example.

Brick And Mortar Retail Trends

“CNBC interviewed Nike CEO John Donahoe about the retail outlook for Fall 2021. Mr. Donahoe announced that Nike’s focus on the customer experience allows the brand to provide products, delivery and innovation that is uniquely customer-centric. This mindset also informs decision-makers to embrace digital connectivity at every opportunity.” – , 6 Cyber ​​Monday Black Friday Shopping Trends to Watch in 2021

First Insight Insights: In Store Shopping Wins

For DTC brands, e-commerce success is much more attainable. This is because the brand does not need to negotiate terms with supply chain vendors before investing in their online presence. The DTC business model is more agile and able to make changes at a lower cost than their distributor or manufacturer counterparts.

The foundation of any online strategy is your website. What sets an e-commerce website apart from a regular website is that you need purchase and checkout functionality in addition to all the other business website requirements.

Your site needs a content management system (or CMS) that allows you to add and manage your product catalog. This website also requires:

Etailer marketplaces include online stores such as Amazon and Google Shopping that allow you to set up additional digital stores online. These markets often function as virtual shopping malls.

Post Pandemic Brick And Mortar Revival: India Retail Research Report

Not all DTC brands sell on Amazon, but many do. The best way to sell on Amazon is to become the first seller.

Search engines like Google work hard to understand the content of each of your e-commerce pages so they can refer your website to those you recommend. For best results, you need to add the right keywords to your product description and make sure that search engines can easily crawl and index your website.

Many e-commerce brands hire SEO experts to help their website perform better on Google and other search engines.

Brick And Mortar Retail Trends

Processing different types of payments usually costs more. However, the more options you include, the easier it is for customers to buy. Consider accepting major credit cards, as well as other payment methods such as:

State Of Retail Tech Q1’21 Report: Investment & Sector Trends To Watch

Maintaining inventory and shipping orders is an important part of e-commerce. Consumers are demanding shorter delivery times than a few years ago. The more streamlined your fulfillment process is, the happier your customers will be.

DTC brands can use various remote features to provide expert sales or customer support. The live chat feature allows you to interact with online customers 24/7, answer their questions about products and resolve order issues.

The ability to return and exchange products from your online store is a growing concern among consumers today. Many customers are afraid to complete a purchase without the certainty that they can return it if it is not what they expected.

While this may seem like a bad thing – making it easier to return unwanted items – the easier it is for you to return/exchange, the happier your customers will be. It’s important to remember that you’re not just selling a product: you’re creating a customer experience.

Trends And How Stores Can Capitalise On An E Commerce Slump

Since more and more shopping is happening on smartphones, the efforts you make to make your website mobile-friendly will only improve the customer experience.

Many leading social media platforms are developing features that make it easy for users to shop and buy from e-commerce brands. Facebook and Instagram lead the way with full in-app purchase capabilities.

This feature is great for DTC brands because it’s usually free and it allows you to be in other places online anytime.

Brick And Mortar Retail Trends

A radical shift to e-commerce is a form of digital transformation, which means a lot can change about your business model. But the learning curve required to bring your brand online is a small price to pay for the low-cost, high-reward gains that e-commerce offers.

Retailers Aren’t Shying Away From Brick And Mortar Expansion

When you start your e-commerce business, you

Brick and mortar marketing, the future of brick and mortar retail, brick and mortar retail sales, online retail vs brick and mortar, brick and mortar retail, brick and mortar banks, brick and mortar bank, brick and mortar retail etf, brick and mortar retail future, brick and mortar retail statistics, what is brick and mortar retail, brick and mortar retail stores

Related posts