Online Retail is Overhyped!

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The end of the holiday seasons is like the last lap for any small, medium and big sized retailers.Thereafter, reduced footfalls bring back incessant yawns. This is pretty worrisome for any retailer. And you can not afford to ignore the fact that your physical stores get harmed by the loss of sales to online channels However, there are no hard and fast rules on what to be done next. In fact, the fear of losing out to online store is only short lived and overhyped, as far as I think, based on an informed guess.  Alright, let me present you few facts. Look at the American retail market, aptly considered the most mature retail market across the globe. Over there, online channels are opening physical stores to make their presence felt. And this trend is gaining momentum.

In fact, all the globally renowned behemoths of online retail are in a hurry for opening brick and mortar stores. And they have already opened hundreds of them across the United States and the plans are for opening more. In fact, the online retail clutter is helping offline stores to get better in their offered services to customers. To make dent in the online clutter, avoid stock outs in store by leveraging your inventory management via predictive analytics. Any case of stock outs in physical store results in the loss of customer, as it makes the customer go for online shopping; where availability of the item in question leads to immediate purchase.

However, the recent times have witnessed tectonic shifts in the retail landscape. Trends are reversing and look promising enough for ensured sustainability of brick and mortar stores.  There are many things that can’t go online like venue entertainment, apparels, luxury items, groceries, shoes, beauty and fitness. And the thrill of instant gratification is simply unmatched when it comes to brick and mortar stores. So stop fearing and instead, concentrate on making your retail store better than ever by embracing technologies.