Black Friday and Cyber Monday officially kick off the holiday shopping season, a time where hours are extended, sales are in full swing and brick-and-mortar stores experience their peak traffic.
Some brick-and-mortar retailers may feel threatened by Cyber Monday, the online version of black Friday, but CBS News recently reported, “A majority of Americans still enjoy and prefer the experience of shopping in a store or mall. Nearly three out of every four Millennials surveyed — the 18- to 34-year-olds that are known for being tech-savvy — say they like in-person shopping, especially with others, and prefer to make purchases in a store.”
Retailers not only compete with ecommerce, they also compete with other stores. Forbes cited that sales will rise 4.1% to $616.9 billion over the holidays, and the retailers coming out ahead are the ones who provide the best experience. Convenience, price and service are all ways stores can capture more foot traffic.
Often, shoppers will research a product online, then go into the store to make the purchase. Stores with a strategic location are more likely to capture these sales.
When evaluating your retail commercial real estate location, consider a few things:
- Is this convenient for your target shopper?
- Is it close to where your target shoppers works, lives or shops?
- Does your store need more floor space or is it more important to have ample storage space?
- What does the front of your store say about your business?
Set up a consultation with the Intelica Retail Services Group to discuss how you can leverage your location to be more successful during the holiday shopping season.