[Must-read for store owners] Why you must start business transformation right away?

"I saw a product I wanted to buy on the street, and I immediately picked up my mobile phone to search it online...Wow, just found exactly the same product, in addition to the cheaper price, also comes with a home delivery service! Just buy it directly online! Why pay extra? " Haha, does this scene seem familiar? 

With the improvement of logistics efficiency, the popularization of smart phones, the rise of social platforms... the retail industry has been silently undergoing a reform in these ten years. In the past year, international fashion giants such as ZARA, Uniqlo, GAP, H&M, and MUJI have all announced the closure of some stores. The entire real economy has entered a trough during the epidemic. With the restrictions on gatherings of different patterns in various regions, many physical stores can no longer support it. Walking in the streets and alleys, you can see some posters of subletting and renting shops everywhere. The scene of blooming flowers in the shopping area has disappeared. Some people don’t like online shopping. In their opinion, online shopping simply cannot buy products that meet their needs. For example, when buying clothes, you can try on them in a physical store, and you can also touch the fabrics and materials, while online shopping does not. In this experience, if the purchase is not appropriate, it will be returned and exchanged, which is very troublesome. However, most online stores now provide return and exchange arrangements, which reduces the advantages of physical stores.

So does it mean that we couldn't do business? No. If you are a physical store owner but do not yet have an online sales channel, it's really the time to consider creating an online store! Smartphones have become a necessity for everyone, even my 90-year-old grandfather has a smartphone! This change in habit has made the entire sales chain of the retail industry tend to develop on the Internet. The goal is to make the process of seeing the purchase can be completed on a mobile phone or computer without leaving the house, and gradually replace the previous need to go out specially. A transaction mode where you can buy your wallet again.

Under the heavy impact of technology and changes in consumption habits, the development of physical retail has come to an end. As the threshold for starting a business lowered, local brands began to spring up. Therefore, whether it is a big brand or a newly established small store, they have to face the business situation with more opportunities and greater competition. If you only own a physical store, you can neither collect visitor data nor operate it 24 hours a day, and you have to pay high rents. Naturally, your competitiveness will gradually decrease.