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Traditional retailers should provide customers the best experience that the brand can offer—a strong range, great customer service, add-on services, entertainment and multichannel retail integration.
In many countries, stores still account for the bulk of retail sales—more than 85 percent in the United Kingdom, 91 percent in Germany, 98 percent in Italy and 95 percent in the United States. Stores clearly differentiate traditional retailers from the retail e-commerce players.
Opening flagship retail stores can act as a vehicle to provide a remarkable customer experience. Kiddicare (the baby products website from Morrison’s, a UK retailer), for example, took over 10 of the former Best Buy Europe big box stores.
In addition to flagship, convenience stores that are located close to customers and stock high-volume items can address the needs of the time-starved consumers. In the United Kingdom, for example, the fashion retailer House of Fraser has opened two Internet-only stores of around 1,500 square feet in locations where the company does not have a full 90,000 square feet store.
Thus, opening convenience and flagship stores can help create a unique retail customer experience.
Read the full point of view: Winning the Retail War: How to Compete with the Internet Pure Plays
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September 4, 2012
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