You might be fortunate. You might be one of those retailers that is early enough in their maturity cycle to still have plenty of new markets to enter and quite a few new stores to open.
But for the majority of brick and mortar retailers it’s over. Or soon will be.
This is the era of shrinkage.
Fewer stores. Smaller stores. And a fundamentally different store experience.
The inexorable and dramatic shift to digital retail is already making some of your locations obsolete. And it’s making the space devoted to certain categories untenable.
If you don’t have a keen understanding of how these radical shifts will transform your real estate strategy, you had best get started.
If you don’t have deep insight into the omni-channel behavior of your core customers, I’d be worried. And I’d get busy.
If you don’t offer something meaningfully relevant and differentiated from what Amazon–or a host of other on-line only players can deliver–you need a dramatic re-think of your strategy.
You can take this dip in the icy cold water of reality as something to fear or a bracing wake-up call.
The former keeps you stuck.
The latter is a call to action.