How Retail Can Thrive In A World Without Stores

Historically, shopping has been a sensory experience. Store associates served as personal shoppers, helping customers pick out items. Shoppers gauged quality by the look and feel of a product. They asked for sales associates’ opinions when they tried on clothes. It was as much an emotional experience as it was a physical, tactile one. That traditional “personal touch” shopping experience is hard to replicate online. As more companies struggle to find their niche with the modern consumer, they’re turning to new technologies to recreate this sensory experience. What’s emerging is what I call the “StoreHouse” — a hybrid model that merges the physical benefits of a real-world store with the convenience of home. To embrace this market shift, retailers will need to experiment with a range of technologies and strategies across marketing, supply chain, and merchandising. Here’s how some brands are already doing this. Read more at Harvard Business Review.