Virtual brands venture into physical marketplace
Implications - Only a decade ago, retailers felt the pressure of taking their offline businesses online, but now, the opposite is happening. Already having established their presence in the web marketplace, major online brands, including Google, Amazon and eBay, are now creating brick-and-mortar outlets, which allow them to effectively demonstrate and showcase their goods and services directly to customers who may not be reached online. Although a virtual side to any business is imperative in this day and age, for brands that have always been web-based, perhaps it is time to venture outside of this comfort zone to reach a wider audience.
Trend Themes
1. Online-to-offline - Major online brands are establishing physical outlets to showcase and demonstrate their goods and services directly to customers who may not be reached online.
2. Pop-up Shops - Search engine giants and auction sites are opening temporary retail spaces, allowing customers to browse products physically and through laptops while providing an immersive online-to-offline shopping experience.
3. Real-life App Stores - Digital stores are creating physical retail shops for apps, organizing them in a way to help customers discover new applications spanning different platforms, and providing app gurus that can guide them as to what type of app would be best for them.
Industry Implications
1. Retail - With the increasing trend of online-to-offline shopping, traditional brick-and-mortar retailers can also create an online presence to provide a seamless shopping experience for their customers and increase their reach.
2. Technology - With the emergence of physical stores for apps, smartphones and other digital products, technology companies can venture into creating physical outlets, providing customers with a hands-on approach for their products before they commit to buying them.
3. E-commerce - Digital stores can take a leap into physical retail stores and provide a more personalized and immersive experience to their customers, enhancing brand loyalty and customer experience.
