E-commerce has consistently grown over the past years, and the pandemic has only accelerated the trend. Traditional brick-and-mortar stores are now struggling to evolve and entice people back into their stores.
Many, such as J. Crew, Disney, and Macy’s, are closing stores. The unfortunate term ‘retail apocalypse’ has surfaced repeatedly due to the closure of thousands of stores in the past few years, suggesting a mass shift from offline to online retail.
And yet Ulta, Dollar General, Amazon, and TJX are opening new stores. What do they know that other brands don’t?
First, it’s important to note that two types of companies are opening new stores. The first is e-commerce brands. The other is traditional retailers who’ve adapted to changing consumer demand, updating their store formats and the omnichannel customer experience.
Physical stores are not dead, but they are changing. Stores need to evolve, or they won’t survive. And stores that are adapting to ever-changing customers’ needs are thriving.
With this in mind, what will the store of the future look like? In this guide, you’ll explore five focus areas to help your store evolve and delight customers at every touchpoint.
The store of the future is digital and experiential, offering customers greater personalization, informed associates, and more ways to pay.
We'll explore each of these qualities in upcoming sections.
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