Magazine article Marketing

Opinion: Marketing Society Forum - Is the Future of Retail Online or Can the High Street Be Revived?

Magazine article Marketing

Opinion: Marketing Society Forum - Is the Future of Retail Online or Can the High Street Be Revived?

Article excerpt

With little if any growth in high-street sales, traditional bricks-and-mortar retailers such as HMV are looking to e-commerce to shore up their performance.

LESLEY EXLEY, MANAGING DIRECTOR, EXLEY HERVEY

Over the past few months, we have seen a huge emphasis on online sales as a percentage of many retail store groups' results, as consumers become comfortable shopping on the internet.

Online is clearly part of retail's future, but it does not have to replace bricks and mortar; if retailers can provide a good in-store experience, it will not take over completely.

Retailers suffering declining in-store sales must focus on offering a shopping experience that is either exciting or comforting. If they merely deliver more of the same, shoppers may as well buy online.

A customer's experience, from presentation to service to after-sales, is more important than ever before.

JAMES BIDWELL, CHIEF EXECUTIVE, VISIT LONDON

The digital channel is rising and will play a significant part in the future of retail. But this market is very much about experience, and consumers will always want to try on clothes or test and view products before purchase.

To compete with the ease of online services, traditional stores need to be more creative, experiential and differentiated to encourage customers to visit.

The retail experience is also dependent on sector - for example, in the, UK 35% of all travel is booked online. Pressure on property and staff costs is also driving online activity.

There will be a rise in community-based retail experience in the future, such as on MySpace, eBay and virtual worlds such as Habbo Hotel. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.