According to the WSJ Brick-and-mortar shops and retail chains are closing at a record rate, and there’s no sign the decline will stop.
In the first four months of 2017, retailers have announced a total of 2,880 store closures, and some financial services firms such as Credit Suisse predicts that around 8,600 stores will close this year. That’s more than closed during the financial crisis in 2008, and twice the number that closed in 2016.
The reason is simple, with the grow of online retailers such as amazon, and the ease of digital payments, shipping and returns it is actually now easier to shop online than drive somewhere, find parking, shop, and then schlep everything home.
There are a few business models where having physical presence matters, but they are few and far between.
Regardless, if people cannot find you online, you don’t exist. You are losing the one and only opportunity where you can completely control the brand experience with your customers. And in this competitive environment, how can you afford not to?
So whether you are launching your business, or considering the next steps of growth, ensure you have your future with the best digital presence. And should you have questions about your digital marketing, don’t hesitate to reach out to us here. And if you have general questions about improving your business’ efficiencies, check out https://www.small-business-accelerator.com/.