RETAIL SPACE
Bricks-and-mortar remains
solid as foundation for retail
T
here’s been a lot of talk in
the retail industry about the
rise of e-commerce, and the
corresponding decline of bricks-
and-mortar retail, especially in highly
urbanised cities like Singapore. Many
have said that the concept of shopping
at physical stores is an outdated one that
consumers are abandoning in droves and
that online shopping is the (only) way of
the future.
My take, bricks-and-mortar, at least
for the foreseeable future, is not going
to disappear any time soon. In fact, if
bricks-and-mortar business is managed
and run effectively, the physical retail
presence should aid business growth.
This comes down to the fact that
physical stores can provide shopping
experiences for consumers that digital
stores are simply unable to match
currently. At our stores, we’ve gone
In the current retail landscape, stores are
here to stay according to Stephanie
Benedetti, general manager of
footwear distribution company Spirit
Retail.
to great lengths to craft customer
experiences that focus on fulfilling
the human senses. The music that we
subconsciously listen to; the token sweets
that we put on offer; the subtle fragrance
that fills the air; and of course, the clean
shops that allow customers to see and
handle the products for themselves. Our
staff are also well-dressed and trained to
provide similarly great service.
A whole new level
It is undeniable that the retail landscape
is increasingly competitive, and retailers
If managed effectively, bricks-and-mortar businesses should contribute to business growth.
need to stay on their toes to thrive.
Innovation can be an overused word,
but business owners do need to ensure
that they can keep up with other
retailers.
A lot of creativity has also gone
into the design and development of
next-level shopping spaces. These
have their own unique identities and
help to provide outstanding holistic
experiences for shoppers before and
after they’ve stepped into shops. Two
notable examples are Singapore’s
upcoming Jewel Changi Airport
with its myriad attractions, which
will appeal to international and local
shoppers alike, as well as the tech-
focused Funan which I foresee will
draw gadget lovers from around the
island.
I essentially see e-commerce as
another platform with which we can
serve our customers. It provides us
with an additional touchpoint to offer
customers a great shopping experience,
enabling them to browse in their own
settings and see the full availability
of stock keeping units (SKUs) in
Singapore. This is what makes them
keep coming back to us, be it online or
offline. Retailers need to recognise that
the retail landscape has changed, and
that customers now expect an option
of making purchases online even if
they have a keen sense of loyalty to
your brand, or to the products that
you carry.
All in all, it is evident that
bricks-and-mortar is far from dead,
and that there is plenty of room to
grow for retailers if they stay sharp.
Great shopping experiences are the
foundation of retail, and retailers
need to ensure that they are always
providing the best customer experience
possible. ra
Retail Asia June/July 2018
23