The localized physical space of a brick-and-mortar store contributes to the overall experience a consumer has with a brand.
Retailers leverage the layouts of stores to amplify their merchandising, but the physicality of a store can also provide consumers with a haven in which to make shopping decisions. As the digital landscape continues to be a point of entry of sorts for in-store shopping, those retailers that create space that meets the emotional and intellectual needs of their customers will win the race for the consumer dollar.
Recent news tends to focus on the demise of physical stores, and yet almost 78 percent of the top U.S. retailers say they are optimistic about shops and that they believe stores have a bright future. By comparison, only 7 percent are pessimistic about the future of the physical store.
Retailers’ optimism is well placed, as the vast majority of retail sales occur in-store, with more than 90 percent of sales on a worldwide basis. While the proportion of sales made online is slightly higher in developed markets like the U.K. and the U.S., the majority of the spend is in physical locations.