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In 2019 an average of 61 shops closed per day, and recent predictions believe that the the ‘retail apocalypse’ is due to continue at least another 2 years. This doesn’t mean there won’t still be a demand for products and services, but that businesses will need to think more laterally and focus on online marketing and presence to survive the shift in the way the world is working.
How are businesses surviving the Retail Apocalypse?
There are a number of businesses that might have had a shop or office where they can actually operate from home or on the move. The beauty industry, technology repair and the beauty industry are classic examples of ones that can pick a corner of their home and keep less stock or keep the tools of the trade mobile and lightweight, and negate the need for a retails space.
The lack of ‘store front marketing’ means that online marketing such as a website, social media and email marketing becomes important. But the cost of online marketing compared to the running costs of a premises works out much more realistic as well as an opportunity to promote your brand to a wider market.
Buying online is no longer a novelty and also no longer just for the big businesses. With an effective website design you can sell online safely and take out the need for a premises to display products. Promoting the website using social media – both paid and organic – is an affordable option as is online sponsorship, and alongside more traditional forms of marketing such as print.
The ‘death of the high street’ doesn’t have to be a negative thing either, in that there will be deserted store fronts in a ghost town. There are many new ways that people are making use of retail premises that are no longer in need. This includes community hubs, service based businesses, indoor markets for businesses to come together, the hospitality industry and of course, those businesses that will always need a shop of sorts.
Get in touch if online marketing will help your business thrive in a digital world.