BrainTrust Query: Is Retail Quietly Trending Away From Bricks and Mortar?
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Back in the late ’90s, a fear pervaded among many retailers that they might be torpedoed by the new phenomenon of online shopping. Over time, retailers relaxed and joined the fray, but traditional retail shopping has been permanently affected. Do you agree that retail is quietly trending away from bricks & mortar?
Clearly the mix of in-home vs. in-store purchases is changing dramatically, and I’m not sure I’d call it a “Quiet” change.
Not only are more consumers opting for out-of-store purchases (15-20% growth rates for online vs. 4% for in-store), but many of the goods that used to be physical are now virtual (music, video, games, and books are all major product categories that are evolving to digital distribution).