- Daily Zen
In the retail industry, as the concept of online retailing has transformed itself into a force to be reckoned with, the variation in brand equity for online retail and brick and mortar business model is growing huge.
Harris Poll EquiTrend Study, which was conducted in 2013, demonstrates that where e-tailer aspect of a single brand and the brick and mortar business model is measured by EquiTrend, as a matter of consequence, the side of e-tailer lags.
With the ever-growing battle with Amazon across all the sectors in the retail industry, brick and mortar adopters like Walmart, Target, and others are trying to figure out strategies to compete against Amazon, a ubiquitous marketer.
For major brands measured in the 2013 study, the local retail stores outstrip its online counterpart. Walgreens, Best Buy, Office Depot, and Target are among the brands with the biggest gap between their brick and mortar and online counterparts’ brand equity.
As the physical state of retailing-brick and mortar is claimed to be on the verge of a massive decline due to the growth of online business and retails, there are still valid reasons that make brick and mortar model the best form in the retail industry. Surely the resurgence of the retail form via tech giants, for instance, Amazon’s gigantic bookstore plans, which demonstrates the revival of brick and mortar in major business, is enough evidence to demonstrate that this model is not planning to fade away anytime soon.
Amazon played a major role in uprooting the entire origin of bookstores that were based on brick and mortar system out of business annihilating bookstore chains and the businesses of many independent booksellers.
Now, it comes out as a very surprising fact that Jeff Bezos is mulling over the concept of bringing the brick and mortar-based bookstore model back by introducing its own 300-400 bookstores.
The company is apparently known for continuously expanding its horizon for more. The one, which started as a normal online retailer for books is now the online retail giant selling all sorts of brand merchandise on its Amazon website.
Due to the ever-expanding ambitions of the e-commerce giant, the retail experience of brick and mortar will surely turn out as a good factor for its business, especially strengthening the company’s bond with its Prime members.
The idea of brick and mortar-based bookstore by Amazon can be considered as a good step, because whatever initiative, which gets more volume of books into gyration is a very good idea. Authors are facing troubles for getting publishers and on the other hand, publishers are facing troubles trying to make a good profit, which makes them adamant on avoiding scripts that are not destined to turn into best sellers.
Apparently, the concept of this is a retail model in motion. The e-commerce giant is planning to conquer the retail world via Amazon brick and mortar format.
We come across countless articles and people who continue demonstrating how e-commerce retail is dominating the age-old brick and mortar businesses. Of course, the online retail has expanded, but that definitely does not mean that the old models of location marketing are left with no significance. For retailers and wholesalers with a limited amount of inventory, brick and mortar business outclasses online retail.
The concept of brick and mortar acquires the edge when personal brand and location are at stake.
No issue regarding intermediaries, who try to control your hold over your product when it comes to online selling via third parties like Amazon.
Trying to make everyone your customer can end up as a huge competition for you in the world market, making everyone your competitor in return. While, the brick and mortar model offers geography and rural marketing base, which allows you to compete locally and earn a profit by focusing your efforts on location marketing for your consumer base.
The universe of social media marketing is not at all flowery. A single fault in online retail management can end up destroying the brand image. On the contrary, the brick and mortar business deals with local marketing, which can throw the issue of online reputation management in the backseat.