It can’t be denied that more people today shop online than ever before. According to a report by Nielson, only ten percent of people worldwide shopped online in 2006. By 2008, that number had grown to fifty percent. It is increasing each year, and that worries businesses who have a physical store. Can they compete with internet retailers?
Business owners that need Austin retail space for lease cannot continue to do business the way they have for the past fifty years. Today consumers are product savvy and spend more time doing research before they spend their hard-earned money.According to a study done by PowerReviews, people spend seventy-five percent of their time shopping online doing research. They may spend several hours, a day, or even longer comparing products and reading reviews before they make a decision.What this means for Austin retail space users is that they need an online presence to compete with online stores. Companies can create a website that provides information and reviews of their in-store products. They can get on Facebook or other social networking sites and offer deals and advertise promotions.Stores may need to stay open later in the evenings to compete with the 24-7 mentality of internet shopping. People want to buy something and not have to wait to get it. If stores are open during the hours when more people shop, they will get more sales. They can compensate by opening later in the mornings.
Not only will it be important to rent Austin retail space in a great location, retail owners will have to carry the right inventory with the best store layout for a superior shopping experience. They will have to know what sells and have it in stock, so that customers who want it immediately won’t have to wait and end up looking online for a better deal. This can be a benefit for real-world retailers in the fact that the person can walk out of the store with the item and not wait for it to be shipped.
Offer An Experience You Can’t Get Online
Customers like to be able to see the actual product, which is one of the main reasons that people still shop in stores. A business can also provide touch screens that allow a customer to order online while in the store if they found something they like but need a different color or design.
Have demonstrations on how to use a product or the way it works. Customers will appreciate being able to test an item before they purchase. This is something an online retailer can’t offer; it’s even better than just having a money-back guarantee.
Most customers say they shop online because they can find better deals. While most stores can’t compete with price, Austin retail space users can offer other values that customers want. They can provide excellent customer service in a fun, friendly store that makes shopping an enjoyable experience.
P.S If you need to find Austin retail space for lease make sure it's in the best location possible for your business