This is a follow-up to a previous post found here.
So what will stores in the near future do? What will they be like? My next several posts will share my perspective on the future of various retail store types. Let’s start with apparel stores. We all buy clothing either online or at stores, but if you think about real-estate presence, apparel takes up 80% of any traditional mall.
Think for just a minute about the way you manage your clothing needs and the process of sorting, trying on, deciding, buying, organizing and selecting the perfect outfit or combination before leaving the house. What could improve that process? What will make the experience of shopping “in a store” for a shirt, a pair of jeans or a suit an easier, more fulfilling shopping experience? READ MORE
Three generations ago, the choices for purchasing, say… a wrench, were limited, at least by today’s standards. You went to the hardware store, looked at the selection on the wall and picked the one that matched your needs and wallet. Today, a visit to the hardware store is just one option out of many as an ever increasing number of choices become a part of consumer’s lives. We can opt for a home-delivered catalogue, use our smart phone, ipad or personal computer, visit an in-store digital kiosk, etc. As a consequence, store sales continue to decrease. In 2012 the online channel will account for approximately 38% of US retail sales, or 1.2 Trillion dollars.