There’s no question that the physical retail sector is struggling, and despite the growth of online retail, bricks and mortar stores face unique challenges. While they still have a significant presence in their communities, brick-and-mortar businesses are also facing challenges of their own. Thankfully, online retailers are now adopting strategies such as “guideshops,” where customers can browse products and make purchases on a mobile device.
Online shopping has created enormous transparency in pricing, and consumers expect a more engaging experience in-store. Whether the shopping experience is online or in-store, price retailers must change to meet the changing consumer expectations and maintain the required margin. This means better cost control and true multichannel retailing. Digital marketing and localized SEO are two strategies that brick-and-mortar retailers can use to stay competitive in the future.