Bricks and mortar retailers continue to struggle as they compete with their online competitors. Physical locations can’t compete on convenience and price so what can they compete on?
Curated events and making an occasion of it – An event with like-minded businesses will attract your combined market.
Pop up – related to the first one. If you’re only around for a fleeting time then customers will queue up.
Partnerships – Combining with other stores that demand a physical presence will help a retailer gain new shoppers.
Appealing to shoppers’ morals – Both provinence and envionmental credentials. People who care about such issues such as animal cruelty will go out of their way to visit a store that holds the same values.
Go up market – Like luxury watch makers, can’t compete on price? Don’t bother. Compete on quality instead.
A tailored approach to each customer that goes beyond a creepy algorythm – Get to know your customer with some friendly, non-intrusive banter.
Privacy – A store doesn’t need to know you were browsing for something late last night
After care service – Retailers will do better if they welcome back customers who are having an issue with the previously acquired goods.
David Jones have been taking the bricks and mortar retail exodus particularly hard and it’s not a surprise that that one of their iconic stores fell under the hammer. Their iconic Men’s store and rather great food hall location has had a development application submitted to council.
The development includes retail, office space and residential apartments.
The unstoppable train of progress can not be condemned. That’s a futile battle, but one has to ask if luxury appartments are really in that desperate need.
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