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Brick and Mortar Reborn: The Future of Retail in the Era of Urbanization
As retail went digital, the idea was, physical space would become redundant. But while pivoting to a new digital paradigm hasn’t been easy, the retail industry’s ability to adapt has been notable and impressive. In fact, as cities grow and new hordes of consumers flock to establish themselves in urban communities, opportunities for innovation are emerging that suggest brick-and-mortar may be the pillar of a new retail era." This article primarily talks about the urbanization and the consumer, and the rebirth of brick-and-mortar.
Key findings
The need for physical space in shopping is depleting.
Shifting trends in brick-and-mortar stores.
The spread of city culture and denser living means customers are willing to pay more for brands that sell experiences.
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