The Retail Landscape Isn’t Done Shifting
The world of retail looks nothing like it used to. Malls are dying, online sales are booming and retailers are scrambling to figure out what comes next. Fortunately, the mystery isn’t as mysterious as it seems. Despite the noise about the rise of digital and the fall of physical, e-commerce represented only 14.3% of retail sales in 2018, 40% of which went to Amazon. Most people still prefer to buy in person. That buying experience just doesn’t look like it used to. Today, people are more interested in the experiences they receive from sellers than in products’ prices. They know they can find great deals online, but they worry about the quality and reliability of cheap online retailers. When they can see and touch products — and, even better, when those products come highly recommended by a friend — they feel more comfortable about the buying process. Read more at Inc.
