Dear Audience, Conventional wisdom tells us that, sooner or later, bricks and mortar will be replaced by online shopping. We’ve been told price is the only thing that matters online, while offline retail is degenerating into a showroom for online retailers. Young people are already lost to brick-and-mortar retail…
Or so they say! ManagementRadio interviewed Lars Luck, Partner at Roland Berger Strategy Consultants, who put things in perspective by explaining five of these accepted dogmas.
Luck and his team, together with ECE, one of the largest shopping center operators in Europe, surveyed approx. 42,000 consumers. They looked deep into 2,000 consumers‘ shopping bags for over a month to establish a clear picture of the retail situation in Germany.
What the customer really wants | Strategic Management
Luck talks about how brick-and-mortar retail can develop to meet customers‘ needs in ways that online shopping can’t. He explains that „traditional retailers should be aware: Price is not the first criteria in a buying decision!“