Online shopping is fast becoming the favorite way to do shopping. It has happened now – more books are sold online than in Bricks and Mortar book shops in 2012.
Online shopping and the future of Bricks and Mortar Retailing
After lots of denials and stubborn dismissals of the reality, it seems that Bricks and Mortar retailers now are queuing to add the online retail channel to their businesses. Many of the Bricks and Mortar retailers failed to read the changes in the marketplace, clutching to doing business that worked for generations.
The delay by traditional Bricks and Mortar retailers going online has given numerous “only online” retailers’ start-ups a head start. Online only retailers started with little barriers, trading as drop shippers and down bidding the margins on many household goods.
Bricks and Mortar bookshops
Anime News Network reported that a survey of 2012 book sales found that online book sales are set to overtake brick-and-mortar books stores. Other trends included flat sales of most print formats, while e-book and downloadable audio books sales are prospering.
The Bricks and Mortar bookshops not adding the online channel to their business will not survive…
Strategies for Bricks and Mortar retailers that also want to do business online
A recent forum in the Middle East Retail Forum in Dubai has identified the following strategies for Bricks and Mortar retailers to become relevant in the market:
- All retailers, either online or offline, need to be competitive and innovative to attract consumers;
- Shoppers are buying more online. They are lured by apps that make it easier than ever to navigate abundant choices and locate the best deals;
- You need to understand how shopping behaviors are changing as consumers gain more choice, access and power across channels;
- Also, retailers need to create a more seamless experience that keeps shoppers engaged with their brand.
Retailers in the physical as well as the online channel need to understand what their customers want and react accordingly.