You Still Have a Store?
If you’re a retailer with a brick-and-mortar store, you’re still in the majority. But maybe not for long. A new study by the Direct Marketing Association found that 41% of respondents don’t have a physical store, and their number is growing. That leaves 59% with a retail street presence. If you want to stay on the street, you better act now.
The study points out that retailers who want to be successful have to be jacks of all retailing trades. They have to bring together all facets of retail, including “consistent brand message, timing, creativity of promotions, loyalty programs and fulfillment.” To that I would add knowledge of online retailing. Because without it, you’re going to face pretty stiff competition from those who have it.
While the DMA obviously would like to see more of us using direct mail, the study notes that websites are the most consistently used direct marketing channel, followed by email and direct mail; mobile is the direct marketing channel retailers are least likely to use; and 66 percent of the respondents gather customer information from direct mail, while 65 percent gather it from the Internet. So, it’s pretty obvious, knowing how to use online will be a differentiator between brick-and-mortar and virtual retailers for the long term.
Last year, the report says, physical stores and retail websites reported the highest revenues of any retail sources. That’s good news for street and web retailers. Make sure you have your feet firmly planted in both worlds. It’s the best way to get customers through your front door—or your portal.


Jeff Grant's Retail Blog
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