Retail is not going away. It is evolving.
Big box stores killed the mom & pops.
Online retailers killed the big box stores: Circuit City, Barnes & Noble, Borders, Blockbuster, Tower Records.
WalMart is right to be concerned.
Consumers benefit from online shopping:
- Skip the ride to the store and back
- Seemingly limitless selection in a few searches
- Confidence in pricing by comparing
Brick & mortars need to do their homework and understand the psychology of shopping in an Internet world.
There will always be those who:
- Want it right now
- Enjoy the social interaction of shopping with friends
- Want to talk to someone who knows what they are talking about
- Want to be 'seen'
They need to wind down and market to that segment of the population. That is where they are headed anyway.
Big box stores killed the mom & pops. Online retailers killed the big box stores: Circuit City, Barnes & Noble, Borders, Blockbuster, Tower Records.
WalMart is right to be concerned.
Consumers benefit from online shopping: - Skip the ride to the store and back - Seemingly limitless selection in a few searches - Confidence in pricing by comparing
Brick & mortars need to do their homework and understand the psychology of shopping in an Internet world.
There will always be those who: - Want it right now - Enjoy the social interaction of shopping with friends - Want to talk to someone who knows what they are talking about - Want to be 'seen'
They need to wind down and market to that segment of the population. That is where they are headed anyway.