A.I Audio Transcription
Our Internet forefathers were wise to see the vast possibilities of the World-Wide Web back in their day. Since its creation, it has transformed entire industries and has brought the world closer together than ever.
In a world dominated by e-Commerce giants and multinational corporations all vying for your attention, the pressure to sell has never been greater than it is today.
With the dominance of companies like Amazon, Tiger Direct, Newegg and others, the Internet-effect has taken its toll on bricks and mortar, or if you prefer “brick and mortar” business.
And those effects have far-reaching consequences for companies who refuse to adapt to the rising tide of e-Commerce.
How many major outlets have you heard about going bankrupt within the last few years?
Toys “R” Us a 70-year old company that many of us grew up with is merely a shell of its former self.
Sears is a thing of the past, shoe company Rockport filed for Chapter 11, Reebok outlet stores are becoming non-existent, and the list goes on.
Whatever the reasons the CEOs of the above-mentioned companies give for going under, whether it’s the Amazon-effect, or not getting in at the right time, the bottom line comes down to they failed to adapt to change.
Remember when BlackBerry and Nokia were the two most dominant smartphone forces on the planet?
BlackBerry’s CEO at the time, or should I say both CEOs at the time laughed at the iPhone and balked at the mere mention of iOS and BlackBerry in the same sentence. The rest is history.
Google at the time was coming out with a smartphone of their own, and when they saw the iPhone, they halted in their tracks, and said hey! We better make some adjustments here. Now, look where Google, err… Alphabet is today.
My point is, that to survive in the changing space of e-Commerce, companies have to think ahead and make small bets, and big moves.
Wal-mart is taking the fight to Amazon with their online store, and it’s a huge success.
Canadian companies like StickerYou are also doing the same with their multi-channel focus.
By combining the power of e-Commerce with brick and mortar, StickerYou is a pioneering a new trend within its niche market.
In the summer of 2019, StickerYou is set to open a physical retail location.
Their goal is to further connect with a vibrant customer-base while offering a hands-on personal relationship like no other before it.
Let’s face it, while quick and convenient, online shopping has its limits.
For one, you can’t touch the product or service, so you have to rely on high-res images.
Bricks and Mortar stores aren’t dead, and in fact, they are still a staple resource that many of us continually rely on.
It’s far easier to return an item in-store, and more than likely, you’ll end up buying more than you wanted to, just because you can shop around.
While all the rage may be about online shopping, the fact remains that the majority of us, some 61% prefer to shop in brick-and-mortar stores. I’d rather have my purchase immediately than have to wait for shipping, some of the time.
Moving forward, the best companies are those that take an innovative approach to sales. By combining online and offline channels in a streamlined fashion, we will enter a new era of shopping.
And the companies that make the best use of technology to realize this end-goal, are the ones that will stand the test of time.