It’s a popular bandwagon to hop on. To say that brick-and-mortar stores have met their end at the hands of e-commerce is a popular mantra people like to yell louder and louder as each new survey is published.
According to CoStar, this notion is greatly exaggerated. The culture of retail is not shifting one way or another, but rather online and in-store sales are blending to a point where Macy’s CFO Karen Hoguet thinks we need a new way of looking at the entire process.
From the article:
A recent survey from the Cisco Internet Business Solutions Group found that 93% of products sold in the U.S. are still bought in brick-and-mortar locations. And while technology has upended many product categories and more than a few individual retailers, it simultaneously has created opportunities for retailers to continue to make the store shopping experience relevant.
“I think the whole concept of bricks and mortar needs to go out the window,” Karen M. Hoguet, CFO of Macy’s said at a presentation at UBS Global Consumer Conference this month. “It’s just so different today. How do you account for somebody who’s buying off a mobile device in a store? How do you account for somebody who shopped all day, didn’t want to carry shopping bags on the train, went home and bought it all on macys.com? I really think it’s sort of an old way of thinking about the business,” Hoguet said.