The annual‘ State of Retail Online’ study, released recently by National Retail Federation( NRF) and Forrester, has revealed that offline and online retailing are increasingly intertwined. It has been found that customers shop across touchpoints and the industry is intended to serve its customers better on both the platforms, be it digital or physical. 32 per cent of those surveyed were‘ pureplay’ online retailers while 57 per cent were multichannel retailers, including traditional brick-and-mortar retailers who also sell online. NRF Vice President for Research Development and Industry Analysis Mark Mathews believes that‘ retail is just retail, whether the sale is done physically or digitally’. Those selling offline have been selling on online platform for some time and e-commerce retailers are also exploring opportunities in |
online sale as they feel it is the way to success,” added Mathews.
The survey also revealed that 43 per cent of offline retailers anticipate a net boost in active physical stores by year-end and only 16 per cent expect a reduction in brick and mortar store business. While 61 per cent of retailers plan to spend more on employee training in order to support their store associates providing better services to customers. It was also found that the location of the store is important to retailers as faster delivery of online orders is the top priority for them. Around 21 per cent of those who took part in the survey feel omnichannel services are also on priority for them. The current retail industry trend shows that customers have now started opting for‘ click and collect’ option while placing an order
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online and retailers too shipped orders received online from a nearby outlet.
The frequent use of technology at offline stores also lets consumers get what they wish for or make the sale even if the product is not
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available at that time. Furthermore, Forrester Vice President and Principal Analyst Sucharita Kodali stated that physical retail store is not doomed as retailers plan to start stores compared to shutting them this year. |
Japan-based fast-fashion brand Uniqlo has announced to launch its first store in Hawaii( US). The upcoming store will be spread over an area of around 17,300 |
sq. feet at Ala Moana Center, the largest and the premier shopping location in the city which also houses brands such as Neiman Marcus, Bloomingdale’ s and |
Abercrombie & Fitch, to name a few. Slated to be inaugurated this fall, the Japanese casualwear brand will offer LifeWear for men, women and kids at the store. Before the official opening of the store, the fashion retailer will also open a pop-up store at Ala Moana Center in June.
The announcement of the opening of the first Uniqlo store has come at a time when it is celebrating 150th anniversary year of the Gannenmono – the arrival of the first Japanese immigrants to Hawaii. Last month, Uniqlo announced to launch its first store in the Netherlands that too coincides
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with the 150th anniversary of diplomatic relations between Japan and Sweden. The proposed store, biggest in Benelux region( Belgium, the Netherlands and Luxembourg), will also have the LifeWear products in offerings – the commitment of the brand to create perfect clothing that meets the needs of everyone’ s daily lifestyles. Further, Uniqlo – owned by Fast Retailing Co. Ltd. – is also planning its India foray. The brand has already applied for the single-brand licence to commence its retail business in the Indian market. However, it is yet to finalise space for its first store in the country which is expected to open doors in 2019. |