Our retailer clients might like to take note of a trend back towards physical stores in many other countries.
Online shopping has clearly resulted in the closure of many high street and other stores during the past decade, but UK property consultants Knight Frank suggest retailers are investing back into physical stores.
That doesn’t mean online retailing is not continuing – it’s just slowed down. The trend has been noted not just in the UK, but also in North America, Europe and parts of Asia.
We have no reason to believe that this trend will not filter down to New Zealand.
The need to ‘touch, feel and see’
Shoppers, it appears, are tiring of online deals that disappoint – clothes that don’t fit, items smaller than expected, different from what was advertised and difficulty with returns or refunds.
Physical stores are becoming more competitive on price, convenience and range.
Plus retailers are making their shops more attractive by offering social experiences that online shopping can never do.
It’s not to say retailers are ignoring their online channels, just that they see value in physical stores playing an important role.
