Even before the coronavirus pandemic, running a brick-and-mortar store was challenging. The online threat was growing, and most people were giving up on the idea of physically traveling to the mall. It seemed like a waste of time.
Now, the case against brick-and-mortar is even more compelling than ever. So what can you do to survive? The trick is to make stores more convenient. Remember, we’ve had online shopping for more than a quarter-century now, ever since Amazon opened its online bookstore. Since then, we’ve seen massive growth in the online segment, but it still hasn’t overwhelmed the traditional sector. (more…)