With the results of this year’s Black Friday and Cyber Monday sales results, the future of brick and mortar retail stores may seem to be at its decline. Thanksgiving day and Black Friday sales reached record breaking amount of $4.45 billion sales online which is a 25% increase from 2015. Brick and mortar sales fell 5.0% from last year and the number of transactions fell 79%. Many factors play into the decrease of retail store sales. For one, the recent presidential election acted as a distraction from the hype of Black Friday, most popular retailers chose to remain closed on Thanksgiving day, and some states even experienced bad weather which caused shoppers to choose to do there shopping from home this year. In fact net sales on Black Friday decreased in total of about 10.4%.
While some factors contributing to this decrease can be unforeseen, there are some ways you can be sure your store stays relevant in times as these. There’s no denying that in this age of technology advancement, its somewhat inevitable that mobile shopping will be a consumer’s first option. You may want to try incorporating mobile technology with shopping in your store. Take Target stores for example. Target offers coupons and additional discounts through their mobile app Cartwheel. These discounts are to be applied during checkout. So while consumers are looking for deals and sales at the convenience of their thumb scroll, the end goal is to get them to buy in store. Its like two sides to the same shopping experience.
Despite the rise of e-commerce, studies show that consumers still prefer to shop in store. In fact 85% of consumers surveyed (via Time Trade) said that they prefer to touch and feel products before making a purchase decision. Being able to have face-to-face interaction with store associates and avoiding the time and costs associated with shipping, is something you can’t get with shopping online. Consumers enjoy the feeling of walking into a store during the holidays, seeing the decor, and being immersed in the aesthetics of the store layout. Incorporating festive decor, and beautifully displayed products will give these consumer the shopping experience they are looking for.
Simply put, people love to shop. In order for your store to thrive you must understand consumers wants and needs. Allow them to use mobile technology to compare prices and research products, then provide them with a satisfying shopping experience in your store. Having 41 years experience in the retail industry, Sharn Enterprises creates custom product displays that will not only meet the needs of these customers and also get your products sold.
To learn more about our products and services visit our website at http://www.sharndisplays.com.
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Sharn Enterprises Inc. @sharnenterprisesinc