In fiscal year 2016 on-line sales grew over 30% nationwide while brick
and mortars ( Locally owned stores) experienced over an 18% drop in
sales. Facts not withstanding most brick and mortars still are not
getting “with the times” and sticking to the antiquated promotion of
their business(es). With numbers like this it is a bleak outlook for the
brick and mortar stores in the U.S. …..unless…. They take their gloves
off and fight for their perspective patrons, like the old days.
Many brick and mortar stores are now offering an on-line appearance
to offer an attempt to stay with the times. But, it takes so much more
than that. Fact is we the small business owners need to make the
millennials and other age brackets realize they get more bang for their
buck from shopping local.
Examples of this are:
a. Many local stores offer expertise on the items they sell, especially
the “specialty” stores ( Pet, electronics, automotive etc)
b. Many stores are price matching- to the best of their abilities- to
the behemoths Amazon, Walmart, Chewy etc.
How are they doing this? Truth is most distributors and
manufacturers now offer M.A.P. ( manufacturers agreed upon
pricing ) because this lopsided purchasing practices by consumers
is hurting them as the major on-line retailers are selling for
pennies on the dollar, thus forcing the manufacturers to reduce
their wholesale purchase pricing.
c. Brick and mortars help alleviate the tax strains we all experience,
if they close cities and towns alike need to make up the loss of
revenue…and they will do it like they always have…..raise taxes (
Ct residents know this oh so well!)
d. Brick and mortars ( also called “mom and pop stores”) allow the
consumer to physically see, try out ( within reason) and compare
immediately similar products, also if there is a problem they can
return and get a new product immediately…in most cases.
So the next time you consider buying on-line please consider the
repercussions for all of us….including you the consumer