Will Brick & Mortar Stores Survive & flourish? What is the future of Brick & Mortar Stores ?

I think Brick and Mortar will survive if they detach themselves from selling. They can sell, but they really need to work on the experience of the product, the touch feel, the aspect of try and meeting others who use it, what a product or service is capable of. Showcasing what the product has done with other clients. The business will survive.

Great topic. I believe the retail space will go through major disruption and brick and mortar business models will become almost obsolete. The costs of descent spaces versus the benefits of face to face customer interactions are slowly but surely closing. Introduce the new need to socially distance on top of the obvious cost advantages of e-commerce make brick and mortar seem like an unnecessary luxury.  I like many others have found myself moving online for retail purchases more and more. This trend should be embraced and strategies to move retail businesses adapted sooner rather than later. I do agree that initially a hybrid model is ideal but new entrants will thrive due to their cost advantage. How long can these hybrid models remain competitive?

Hi Sehala,

I would say its bit early to say that brick & mortar will be completely obsolete .. smartphone penetration , internet penetration and many other factors are very important.

I am in agreement with Farid’s point of view that business style has to be changed that,s it .

Instead of selling it should be experience center.  Purchasing will happen through good customer service and experience.

78% revenue of retail business is still predicted from brick & mortar for next 3 to 5 years

Have a look at a video on my youtube channel it is very insightful .

https://www.youtube.com/watch?v=ymFIySK4XDk

While social distancing will definitely impact sales, the human urge to step out will ensure that these stores do not disappear. I believe brick and mortar retail will continue to flourish especially in select categories where look, touch, feel and smells matter. However, these stores would leverage digital for enhancing customer experience and cost efficiencies.

When both, technology (online stores) and B&M stores are tied strategically, then you could have results like Bestbuy in NA using their online website plus their physical stores or you can have the success of Amazon and their distribution/warehouse centers. Get in touch for more innovative ways to accomplish the above. Thanks for reading. BTW, this is a great tool to communicate with other experts in their specific fields.

Depends on the country. In most of. Europe rents are too high, choice is too limited (phone shops, estate agents and second hand charity shops) and councils too greedy on parking charges. The product before parking and fuel is twice the price, after parking and fuel at least 3 times as much often more.