There was a time not too long ago when, if you wanted something, you went to a store. You pretty much had to. Now, after the Supernova explosion of methods to buy merchandise that make shopping easier and more convenient, you may find yourself asking, what’s the value of having physical stores? Retailers that struggle the most keeping up with modern changes also seem to be having the most trouble with this question. Given the current plethora of easy ways to get goods to your doorstep fast, falling behind is certainly understandable but unquestionably risky.
So, we at WD Partners thought, given all the rapid and recent changes, what do consumers see in physical stores now, and to what degree? Is it the experience (which we know can be defined in many ways), the service, the design? Is it just plain fun to go to one like the good ol’ days (nostalgia)? Or is still simply the function of buying what you want when you want it? Our goal – how can we provide information that will help retailers focus on the right challenges going forward?
Thank you for joining Lee Peterson (EVP Thought Leadership, WD Partners) at NRF 2024, where he shared proprietary research from over 2,000 consumers that answers the question, given all the choices you have to buy goods today, what do you use stores for? You can download Lee’s full presentation by completing the form below.