 |
| 63 Stores |
Today's shopping experience is NOT like your grandparents' or parents' generation! Today we can buy anything with a CLICK on our cellphone or PC! Major retail stores are closing while others are closing down hundreds of locations like the ones shown here. What is happening?
 |
| 183 Stores |
People are simply buying more stuff online than they used to, but what changed?
- Online return policies have make online purchases "trustworthy"! There are no RISKS involved in purchasing clothes and other personal items as most online companies have a generous return/refund policy.
- It is no longer cumbersome to purchase online with your phone as most reputable companies have developed MOBILE APPS to attract and keep their loyal customers. MOBILE APP purchases are up from 2% (in 2010) to 20% 9 (in 2017).
- Most companies have waived or absorbed their shipping and handling fees making most purchases equal in value or less than purchasing from a local store.
- Clothes purchases are the worst for many people. Some love browsing the racks while others, HATE IT! For those people, they can search, order, receive, try-on and return any clothes they do not like for any reason! There is no embarrassing...."madame, can you get me a larger size?"
Less shopping trips!
 |
| 103 Stores |
- Purchasers would decide to by a television. They would figure out which stores to visit, get information on the different offerings. They would go home research using magazines or word-of-mouth referrals and then make a second or even third visit to the store. Today, they can do ALL OF THIS ONLINE! There are still those that like to feel and touch, but in many cases they make one trip to a couple of stores and then purchase online for a better price.
- Retail stores have "outpriced" themselves. Needing to pay for retail space, inventory, staffing etc. Just so that someone could touch, feel, smell & taste what they wanted to purchase. And even then, we got a bad product and returns were difficult many times. So instead, I would prefer to order what I normally buy online and go for a bike ride!
- Recently, my husband needed to replace a handle on our van, it is a 2001 Odyssey. Most parts stores do not carry product that old. So, he just went online researched what part he needed got the model # and then checked a couple on places online. It was delivered to the house free of charge! Years before, he would have spent an entire day going to the dealership getting part info then older parts shops and eventually to the junk/salvage yards to see if he could find a 2001 Odyssey door where the handle was still good, pay for someone to remove it, hoping they did not break it, and then hours later come home to install it! Way too difficult!
 |
| The Gap & Banana Republic - 200 Stores |
Americans are shifting their spending from materialism to social interaction with family & friends.
- Malls were the gather places of the 70's - 2000's. But in more recent years, with public violence on the rise, families are choosing to not be "mall crawlers" and shop for the security of their own homes!
- Driven by Social Media acceptance, today's consumers prefer to spend more time being able to socialize with family & friends over a meal, getaways, vacations, movies, and others entertainment venues.
- In 2016, for the first time ever, Americans spent more money in restaurants and bars than at grocery stores.
Do you need to REINVENT your business?
Do you offer a MOBILE APP?
Do you make it EASY for people to FIND you and DO business with you?
No comments:
Post a Comment