“Everything at the click of a mouse or the tap of a finger” is the mantra these days. With ecommerce proliferating for years now and the Covid-19 pandemic giving virtual retail across the world a powerful boost, one actually wondered whether the death knell for physical retail was ringing. To add to it is the fact that in the United States alone, nearly 25000 stores closed in 2020-21.

And yet, in 2022, 87% of all the sales happen at physical stores and more than 94% customers have returned to the act of physical shopping. Though ecommerce has prospered, physical retail continues to rule the roost. As a retailer, you should definitely invest in physical stores and here are reasons why. 

1. According to KPMG, consumers prefer physical stores as they get to see, experience as well as test the products in person before making the purchase decision. The physical location, by offering hands-on experience with the product increases the probability of a sale.
2. Research indicates that salespeople influence at least 60% of the prospective customers into making a purchase. It also shows that more than 75% of customers tend to purchase more under the influence of excellent service.
3. Attractive displays of complementary and supplementary products in the store ensures increased sales volume as customers indulge in buying additional items. Getting a world-class professional like Autumnwood to plan and craft your display units also bolsters sales.
4. The retail landscape has gotten very competitive and the best way to stand out is to create a brand. The physical store is still the best possible method to create the brand experience for the consumers.
5. It has been proven that consumers return anywhere between 20%-40% of the products purchased online. When it comes to physical stores however, the range is between 5%-10%. Even in the case of an exchange, it costs less at the physical store since shipping and packaging costs are eliminated.
6. Logistics, packaging and transportation costs can increase exponentially and erode your margins when it comes to ecommerce. Physical stores can help out here by acting as warehouses or fulfilment centres to reduce inventory costs on one hand and enhance your geographical reach on the other.
7. Your physical store is a fertile ground to obtain critical customer data to study and understand trends based on actual observation of customers’ interactions with the space and products in the store.
8. The ICSC (International Council of Shopping Centers) found that the website traffic got enhanced by 37% in the quarter after a physical store was opened. This isn’t surprising because with the presence of a store, there is an automatic increase in the number of online mentions and web searches. All of these result in increased profitability.

 When you decide to take the plunge to open your first store or branch stores in different geographies, make your displays stand out and call out to your potential customers. Contact Autumnwood for quality-driven and custom-manufactured end-to-end interior solutions and turnkey projects. And we will do it as easy as a click of a mouse or tap of a finger for you!