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Consumer Markets

The Evolving Face of Retail

Scott Moore has a nice post on about how Retail isn’t dead, just changing into the Six Million Dollar Man.  I like where he’s going with that.  Brick and mortar stores aren’t dead.  Yes, they have challenges but just as we saw in communications, new technology doesn’t necessarily mean the end of one medium.  Radio didn’t replace newspapers.  TV didn’t replace Radio.  TV didn’t replace movie theaters. Just as older medium of communication have changed, we will see an evolution of stores.  Here’s how Scott views it

The earliest department stores weren’t just places to shop. They were attractions. In many ways, our lives revolved around them because they offered a variety of experiences. We moved away from the idea of a store as leisure space or entertainment, but we never found a new public space to replace the department store or mall.

Many retailers, including department stores, are now rethinking the shopping experience. Hackett Men’s Store in the U.K. offers a complimentary gin bar for those who need to quench their thirst while tie shopping. Capitol One Bank has introduced Capital One Cafes to encourage consumers to spend more time interacting with their local bankers.

Scott Moore gives a number of other examples and thoughts on the evolution of stores but this rings true.  There are some things we will always want to buy only after experiencing it.   A computer, tablet, or phone won’t be able to replace that experience.  But of course, that depends on the continuing evolution, dare I say digital transformation of these brands and stores.

Read the entire article.

Thoughts on “The Evolving Face of Retail”

  1. A perfectly crafted article, Michael! Completely agreed that just as the older medium, it will evolve. Technology will open new dimensions of possibilities and create new ground for the evolution of existing things.

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Michael Porter

Mike Porter leads the Strategic Advisors team for Perficient. He has more than 21 years of experience helping organizations with technology and digital transformation, specifically around solving business problems related to CRM and data.

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