At Canadian POS Corporation, we’ve never been under the impression that e-commerce was going to completely destroy the traditional shopping experience. It has, however, impacted it significantly. Undoubtedly, Canadians still enjoy going to physical store locations in order to do their shopping. There’s no question though, that the ways in which they go about making their buying decisions have changed.
They go online to compare items and prices to ensure that they’re finding the best bargains. In many cases, they choose to make their purchases directly from company websites. And, in many others, they decided to visit the stores personally in order to pick up the items they want.
Jacob Serebrin of the Montreal Gazette writes that some businesses haven’t been able to withstand the power of e-commerce. “Online shopping is growing, major department store chains, like Sears, are struggling, while others, like Target, have disappeared from the Canadian market,” he writes, pointing out that many retailers are investing in their brick-and-mortar locations in order to inspire increased foot traffic from customers.
Serebrin also acknowledges the fact that online sales in Canada are growing significantly. “Retail e-commerce sales in Canada were worth an estimated $34 billion in 2016, according to market research company eMarketer,” he informs. And while it has not signalled the death of physical retail, it has certainly caused many a merchant to change his/her marketing strategies.
Craig Patterson is the founder and editor-in-chief of Retail Insider, an online industry publication. He has noticed that many retailers are still doing quite well. However, they adopt a combined online and offline selling strategy that helps them to keep up with the needs and interests of the modern-day consumer.
“Montreal-based companies like eyeglasses seller BonLook and clothing brand Frank and Oak both got their start as online-only businesses before opening physical locations,” writes Serebrin, “The advantage of that strategy, Patterson said, is that it allows people who might be hesitant about making an online purchase to try products on in-store and then, once they know what they like, make further purchases online.”
This is especially true for the clothing industry. Naturally, consumers enjoy trying clothes on before they decide to buy. The electronics industry, on the other hand, experiences something a bit different.
Says Serebrin, “while consumers still like to touch fabrics and try on clothes, it’s not the same for electronics, said Avi Krispine, the executive vice-president and managing director of Quebec operations for commercial real estate and investment firm CBRE. That sector has seen a 10.2 per cent year-over-year decrease in sales per square foot, he said.”
No matter your industry, there are proven benefits from allowing your customers to make purchases directly from your website. For more information about the e-commerce solution offered by Canadian POS Corporation, please don’t hesitate to call us at 1-877-748-2884 or email us at firstname.lastname@example.org.