The Digital Future Of Brick & Mortar Retail Outlets - Steve Blacker - MediaBizBloggers

1 How can a Barnes ampamp Noble or Borders compete with an Amazoncom when its huge super stores pay super rents and stock over 31000 different titles Currently both book retailers are attempting to redo their business model to survive What seems to be needed is a viable and profitable combination of digital and brick and mortar2 The above is easier said then done In order to compete with the likes of an Amazon a Barnes ampamp Noble or Borders needs to forge new partnerships with a few of the major emerging social networks and established search engines At the same time the number of retail outlets need to be significantly reduced and remaining stores will require a total makeover in terms of inventory of titles carried and the way all books are displayed and merchandised3 For example rather than carry an inventory of 30000 titles a book store need only carry best sellers and other type books that normally do well ie make it worthwhile to stock them Rather than thirty thousand titles a store might now stock a 1000 or less different type books If customers wanted to browse say the history section they would go to a digital display board that would be within the more streamlined history section A customer could have the option of either ordering the book not displayed to be delivered to their home address or pick it up at the store Obviously there would be no shipping cost to pick the book up at the store And by bringing the customer back again there is another opportunity to sell them another book or promotional itemAll media and advertising professionals companies organizations and educators are invited to become MediaBizBloggers For more information contact Jack Myers at jackmediadvisorygroupcom wwwMediaBizBloggerscom is revenuefree and accepts only probono advertising for industry organizations and charities and there is no cost to include your blog4 Imagine my Facebook or similar social networks listing my favorite books tied in with a special offer from Barnes ampamp Noble when you visit Or when you do a search on a particular topic books on that topic pop up along with a special offer from Borders This will eventually happen with or without major book retailers participating5 While brick and mortar retail outlets will still exist over the next 510 years their sheer number will decline Take a walk on Madison Avenue in New York City and one can not help but notice the number of vacant stores The same is true for shopping centers and malls across the country During the boom years major retailers over built and now reality is setting in6 Major retailers could have fewer stores per market that offer the consumer a unique and better shopping experience A major frustration often times for a shopper is finding something in their size to try on A new way to display merchandise could be to display all sizes and keep that constantly stocked but not display all the colors or patterns the garment comes in The other colors and patterns would be on display so that the customer could order their size with the appropriate color or pattern they wish The customer would have the option of coming back within 24 hours to pick the item up or have it shipped to them or maybe even go to a nearby distribution center7 There could be some exceptions to the decline of retail outlets ie fast food chains drug stores and super markets Overall though major retailers will have to quickly figure out how to survive in the new Digital economy The emergence of new retail business models should not only help retailers grow and survive but also save the consumer time And saving a shopper time is the most valuable promotional opportunity of allSteve39s new book You Can39t Fall Off The Floor The Insiders39 Guide to ReInventing Yourself and Your Career chronicles his 50 year career working for over 25 different companies with 189 lessons learned and insider tips from Gayle King Cathie Black Chuck Townsend and 28 others Blacker is still going strong today as a partner in Frankfurt ampamp Blacker Solutions LLC His web site is blackerreinventionscom and email address is blackersolutionsaolcomRead all Steveamp8217s MediaBizBloggers commentaries at Steve Blacker MediaBizBloggersCheck us out on Facebook at MediaBizBloggerscomFollow our Twitter updates MediaBizBlogger

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The Digital Future Of Brick & Mortar Retail Outlets - Steve Blacker - MediaBizBloggers

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