Retail's Revenge Hinged On A Brick-And-Mortar, E-Commerce Marriage
The coronavirus pandemic was a make-or-break moment for many of the nation’s retailers. E-commerce became the modus operandi overnight, and those who had resisted digital innovation were left with two choices: Adapt or die.
More retailers are also using their online presence to drive potential customers to their stores, B+E Net Lease CEO and Co-founder Camille Renshaw said. With so much competition these days, an effective digital strategy can determine whether one option stands out among the rest.
“You have to be able to engage with your customer before they physically get in the store,” she said. “What we’re seeing more than ever is retailers thinking about how to alert the customer that they are available to them at that site and at that price.”
A growing number of online brands are also buying into the value of brick-and-mortar retail, said Emily Arft, senior associate on the retail research team at Green Street.
Earlier this month, real estate investment trust Simon announced a partnership with omnichannel platform Leap to open physical locations for several e-commerce brands, including Third Love, Sugarfina, Goodlife and True Classic Tees.
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