Over the past 10 to 15 years, we have seen a massive change in how consumers are shopping. The convenience of next delivery, mobile browsing, competitive pricing and online platforms have completely changed expectations. The leading businesses in this sector all have an online platform, and the smaller companies have an online store and warehouse for their products. Despite most consumers shopping online, there is still a small demand for physical stores.
The Power of Experience
One of the core reasons why we need a physical store over online is simply because the consumer wants to feel the experience of the store. For example, the Apple store or Dyson store all have a unique experience that you associate with the brand. Even shopping centres in Leeds have embraced this unique experience in their whole shopping centre, ensuring they give a luxurious feel to the consumers. It is a perfect blend of architecture, dining and leisure.
When a consumer goes into the store, they can experience the product and receive personal service when they are in the shop. This is something that is very difficult to recreate online, which is making a physical retail store so valuable to the customer’s experience.
Convenience Still Counts
Online shopping is often associated with convenience because you don’t need to leave the comfort of your own home. This is perfect for those who live in more rural areas and don’t have easy access to public transport. That being said, for those who do have access to public transport, shops that improve accessibility to increase footfall are all very important. For example, Victoria Leeds provides parking in Leeds, making it much easier for consumers to shop there. Not to mention, they can buy as much as they want and put it into their car. This is a great selling point for many consumers who want to see the product in person before purchasing.
Supporting Local Economies
Another great benefit to shopping centres and retail stores is that they support the local economy. This is because they attract tourists, create more jobs, and encourage people to spend money in their local community. Shopping centres similar to Victoria Leeds provide a lot to the city and bring together local and global brands. It is perfect for creating foot traffic which will also benefit the surrounding area and more local businesses. Even the restaurants nearby also receive these benefits.
Omnichannel Integration
Having a physical and online presence is great for success. This is because customers like to browse for their products online before purchasing, and in some cases, will do click and collect so they can pick it up from the store. This omnichannel experience allows customers to meet retailers in the early or late stages of the buying journey. Not to mention, it gives the customers more opportunities to browse products in person when they click and collect.
Summary
The core issue with physical stores is that rental fees for commercial properties are expensive, which can be very difficult for small businesses to pay. That being said, if they are in a popular area, it can be highly beneficial for the business.
