Are Brick-and-Mortar Stores Really Dying?

Contrary to popular belief, brick-and-mortar retail is far from dead. While online shopping continues to rise, many people still prefer the traditional in-store shopping experience. They enjoy being able to see and test products before making a purchase, a luxury that online shopping can't provide.

Statistics on Brick-and-Mortar vs. Online Sales

According to data from the U.S. Department of Commerce:

Total retail sales increased by 6.9% from $1.38 trillion in Q4 2019 to $1.47 trillion in Q4 2020.

E-commerce sales saw a significant 32.1% increase from $156.39 billion in Q4 2019 to $206.66 billion in Q4 2020.

Online sales as a percentage of total retail sales rose from 11.3% in Q4 2019 to 14% in Q4 2020.

Interestingly, a 2016 survey by BigCommerce revealed that older generations are less inclined to shop online compared to Millennials and Gen-Xers.

Why Customers Choose Online Shopping

Online shopping offers several advantages:

24/7 shopping convenience

Cost savings through price comparisons

Avoiding the hassles of traveling and dealing with crowds

Time-saving benefits

Greater product availability

Opportunities for free shipping

Why Some Customers Prefer Brick-and-Mortar Shopping

Physical stores offer unique benefits:

Ability to interact with products before purchasing

Immediate access to goods

Personalized customer service

Avoidance of shipping costs and returns

In-store shopping experience and social outings

How Small Businesses Can Adapt to Retail Trends

While most large retailers have an online presence, smaller businesses can benefit from establishing an online platform. Even a basic website or social media page can help increase visibility and reach new customers.

For those considering online sales, platforms like Facebook, eBay, and Amazon offer simple and cost-effective solutions. Regardless of online presence, focusing on exceptional customer service is crucial for building customer loyalty and competing with online giants.