The Change In The Retail Market
With The Rise Of Online Shopping How Can Large Scale In Store Retailers Stay Relevant?
Branding, Critical Thinking, Design, Future, Public Relations
Defined- “A retail sale occurs when a business sells a product or service to an individual consumer for his or her own use. The transaction itself can occur through a number of different sales channels, such as online, in a brick-and-mortar storefront, through direct sales, or direct mail.” As someone who has worked in Large-Scale retail I found myself perplexed by the decline in in-store sales. As time has progressed over 12 large retailers have shut doors with 8,600 store closings this year. With the wake of Coronavirus adding to people wanting to shop at home I began to question why aren't people shopping in person anymore and what does the future of retail look like in a post pandemic world?
"Large Scale Retail as it is a dying market. Ex: Saks, Barneys, Lord and Taylor. How can we make Large Scale Retailers relevant in today's market?
Retail is a dying market and therefore is becoming the downfall of many fashion houses.
Store fronts are expensive and with clients lacking the need to shop in person many brands can’t afford to stay open.
Due to the Global Pandemic some stores had to shut doors for over 6 months.
8, 600 stores closed this year. 12 are major department stores.
Stores could modernize to give clients the same feeling of shopping online -This would save many brands and stores. By understanding your clientele better brands could save their in store retail market.
"Re-Design" - a marketing company that recreates the strategy behind specific large scale retailers / companies. Through research we created a 6 month program that implements what we have found the current customer wants out of their shopping experience. Our 6th month program focuses on: Time Saving Methods , Everything In One Place , Less Interaction With People , No lines, Cheaper products spread out over less floor space, and Convenience.
Learn more about the students:
Chandler Swift: https://www.parsonsbba.com/sp21-studentprofiles/chandler-swift