The fall of retail and the rise of e-commerce
February 13, 2015
The fall of retail stores
Bricks and Mortar stores like Mexx, Sony, Jacob, Smart Set and Target are dropping off the map faster than Malaysia Airlines. These were huge players in the Canadian retail economy, and probably just the first of many to leave our country.
Sears is one of the next to exit and speculation suggests Best Buy is close to follow. Retail stores have high overhead costs, especially when compared to the lean E-Commerce stores.
The rise of e-commerce
E-Commerce stores are thriving because consumers want to buy from the comfort of their homes. E-Commerce websites are lot easier to maintain and more cost effective than storefronts. Amazon for example provides their customers with an experience you would never get at a retail store. You can compare prices, view reviews and get detailed product information to make sure your order is perfect.
E-Commerce is the present and future!
Help your retail stores thrive by making the move online.
Scaling back your retail locations isn’t necessarily a bad option. You can still push your website users to your stores by offering door-crashers or free shipping to one of your locations. You will instantly be more competitive and will reduce your overhead costs by making the move online. It never hurts to reach a larger market!