The way that customers make buying choices has changed dramatically over the past several years.
Today, customers visit stores; use their smartphones to compare product and price reviews; pull family and friends in on purchasing decisions via social media; and, when they’re set to buy, a growing catalog of online retailers deliver products straight to them, sometimes even on the same day.
Industry observers have predicted that these shifts may lead to the end of retail as we know it -- and that the extinction of brick-and-mortar stores as a result.
We see that within the last century, local niche stores gave way to department stores and supermarkets, then to shopping malls, and then to big-box retailers. Each of these transformations unfolded quicker than the one that preceded it.Continue Reading..