Sales in brick and mortar retail have been down since the Great Recession. And, according to Retail Metrics Inc., the numbers haven't bounced back. Here is the coverage in Bloomberg. Even high-end Nordstrom, with its experience-economy features like a piano player, has taken a hit.
But buying hasn't stopped. And the bean counters at retail are taking that into consideration. Increasingly, say the retail experts at Deloitte, sales are being aggregated based on a multichannel basis. Folded in together are the sales in brick and mortar, on the company's website and on other companies' websites.
Brick and mortar is serving as a platform much like Apple's retail: To engage prospects and have smart people anwer their questions. Here is that Deloitte study. Recently BMW has shifted that way. Its dealerships are there for prospects to kick the tires and learn about the technology, not necessarily close the deal. That cuts down on maintaining expensive inventory.
The Store as we have known it will come to host the kinds of experiences we have when we go to the cinema or attend a special event such as a seminar on annuities.