What retail apocalypse? Sure, Amazon.com and Wal-Mart are dominating by volume. And mall-based retailers like JC Penney and Sears are naturally suffering since nobody goes to malls anymore. But is there really a storm destroying businesses, or have business models simply failed to keep up with consumer desires?
Dollar General will open 1,846 new stores, remodel 1,568 stores, and relocate 219 stores this year. Dick’s Sporting Goods will open 20 stores in 2018. And Costco Wholesale will open 28 new locations. So what’s really driving the perception of dying retail? Besides the collapse of mall culture, and the advance of e-commerce, what’s really shifting American buying habits is the experience economy.
Customers expect retailers to offer authentic, engaging shopping experiences that exceed expectations and deliver value. Find some great insights on creating an engaging retail experience here. And when you’re ready to create a more profitable experience in your retail environment, Nashville Wire is ready to help you. Contact us to learn more about our capabilities, or get a fast quote now.