The innovation that can stop the physical store death
A lot of physical stores are currently struggling to keep their businesses running. Most of them are now losing customers and their revenues are dropping drastically. The number of people who shop online is ever increasing and the e-commerce sector is booming continuously, with the help of the complete value chain digitalisation efforts. Due to these reasons, many physical stores are dying gradually and even sometimes extending to entire shopping malls being closed down completely.
This shows that the old methods of selling are gradually fading away and physical store owners need to do something about it as fast as possible. Now, what is the way out for physical stores? What must they utilize in their business to stop this ongoing death?
Pop up stores have been driving so much attention recently as it seems to help most store owners get some more customers. These pop-up stores are temporary stores that offer customers short term sales for an upcoming event e.g a musical performance, TV show etc.. The most fascinating fact is that this trend has developed into a huge marketing channel and is estimated to worth over $50 billion. This has caused some of the online retailers to start coming up with physical guest appearances at different locations. How to feed this fire? How to create the awareness needed. How can we be creative on consumer- technology - physical shop interaction?
Businesses need to focus on how to attract customers to start buying items at shopping malls. They should try and come up with creative ways that will make them stand out to customers. Doing this will give them a more competitive edge over other shops and they'll be able to retain more customers.
Now here comes the innovation that will give shop owners a better experience like never before. This is a brand new marketing channel that can be used by almost any shop owner. It offers a more creative, easy and profitable way for business owners to grow and develop their brands. it also creates more visibility towards the deals and events in physical shops and malls to attract more customers. It has been personalized for easy access and it works across all platforms.
Now what is this platform and what does it do?
We focus on how retail stores can get their feet back into the game and take their business to greater heights. We are Local deals. We help you discover new opportunities at every turn you take.
Conclusion
The ongoing extinction that is trending within physical stores doesn't mean there are no more opportunities for them in the new world. There are lots of opportunities out there with this innovation. It's time for physical stores to take action and change their marketing style. And in no time, those sales will start coming in and they'll be able to build stronger customer relationships.
Yasith Wickramasinghe | 22.05.2020