5 reasons to pursue Brick & Mortar

Everyone is always talking about the demise of the retail store, how malls are going away, and how people just aren’t interested in shopping in person. While there is some truth to those statements, there are many benefits to owning a store. Malls may not look exactly like they did 20 years ago, and they’ll continue to transform over the next 10 years, but they aren’t going away, or at least not completely. It’s true that there are too many malls, and stores often over-extend themselves with their retail footprint, but having a few strategically placed stores nationally can be incredibly valuable for a brand. Here are the top 5 reasons it can be beneficial for a brand to have retail stores.

1. Research

   Customers look online at things, especially high ticket items and clothing, and often want to see it in person before purchasing. They want to take it out for a test drive, per se. Consumers are more informed than ever about their choices, they’re literally at their fingertips, so they want to be sure they’re making a good choice before purchasing. Yes, some customers shop online and then purchase in-store, while others shop in-store and then purchase online. Does it matter where the money is spent? Not really, its all going to the same big (or little) pot.

2. Brand identity

   Designing a space gives the opportunity to really set your stores apart from all others, but also showcase to your customers exactly who you are and what you stand for. Interior design, employee attitude, internal branding, music, product layout and selection, window displays, and more, all give your customer a broader idea of who you are and what you stand for, so take advantage of that. The more you can create an aspirational brand for your customers, the more likely they are to continue returning.

3. Experience

   There are so many ways to engage with a brand, and ALL retailers need to have a digital presence, no question. But stores can do so much more because a physical space can bring people together in ways a website just can’t. Retailers can create a deeper connection with customers through experiences in their store, and many brands are pursuing such practices to enrich the consumer experience (think yoga at Lululemon). Customers come to the space to do something different, are there to use the products, but also can purchase before, during, or after.

4. Marketing (new customer engagement)

   It can be hard to get customers to just happen on your website, you need to have a GREAT digital marketing strategy. But growing your brand beyond that, well you might consider a physical location. People go out, and while out, sometimes they visit other stores, restaurants, movies, or classes, so why not take advantage of those people to try to grow your own base? A strategically placed physical location can work wonders for your brand in terms of exposing a wide range of new customers to your business.

5. Engagement

   People like expert advice. They enjoy hearing why they might want to purchase this or that, and sometimes they go to a store to hear just that. So make sure your employees are well-informed and helpful, and always make their customers feel good.