The Retail industry has undergone a number of changes in the last couple of decades as part of an expected evolution that comes with generational and demographic changes. However, recently there were suspicions that brick and mortar stores will soon be a thing of the past, something that has stalled the retail real estate sector in the last couple of years as large chain anchor and department stores either closed down many of their branches worldwide or went out of business altogether.
This was largely attributed to the expansion of online retailers, their highly efficient and successful business models, and especially true for online retail giants like Amazon and Alibaba. However, as Amazon has just opened its first physical store, announced they will be opening more across the United States then worldwide as part of their future expansion, then acquired an industry giant such as Wholefoods, it is undeniable that retail experts such as Amazon see a future in brick and mortar stores.
Moreover, retail industry experts and consultancies have proven to retailers that although online availability is key for targeting and positioning of brands, physical brick and mortar stores remain the primary factor for credibility, building customer loyalty, and expanding targeting through relevance.
So, if you’ve been running an online business concept in Egypt, whether small or large, and would like to consult some experts on the feasibility on transitioning into the retail physical market and how it can affect your business, consult our R&D retail experts at B2B.