Is Online Shopping Hurting Your Business?
If so, you are not alone. Online shopping is having a negative financial impact on brick-and-mortar stores everywhere. In our white paper, 5 Ways Your Small Business Can Use Experiential Retailing to Thrive in the Online Shopping Era, we present you with real solutions that help you keep customers coming back to your store.
Today, 51% of Americans prefer to shop online. Among other reasons, it’s the convenience of comparison shopping and the ability to shop 24/7 with the click of a mouse that’s driving this broad consumer shift away from both large and small brick-and-mortar stores.
As a result, there have been record-setting levels of store closings over the past few years. This so-called “Retail Apocalypse” has left no sector unscathed. From toy stores, to clothing stores, to drug stores, retail outlets are closing at rates that top those seen during the 2008 financial meltdown.
To thrive in the online shopping era, you have to be imaginative in your approach to attracting customers and motivating them to return to your store. You must move beyond just selling products. You need to sell an experience. Attracting new and returning customers means giving them a reason to visit your store that goes beyond the transaction.
It is important that you invest effort into selling products by delivering a unique and memorable experience that entertains, engages the customer’s senses, or connects with their emotions. This is called experiential retailing.