Retail Shopping Habits
Tom Dougherty, CEO – Stealing Share
4 January 2018
Consumer Shopping Habits. Change.
Do we need an official report on holiday sales figures to see that shopping habits have changed and that the changes are permanent? I don’t think so.
The current retail model of anchor stores with an on-line presence is a Band-Aid over mortal wounds. (Read about retail troubles here)
Evolution in retail means extinction
Darwin informed us. Experience teaches us. Survival favors change. Species either evolve or fall victim to species that adapt better. In some instances, like the catastrophic meteor that doomed dinosaurs, change advances rapidly. Some can’t adapt quickly enough.
Current retail is the endangered lot
Retail changes moved like glaciers in the past. Watching the sea of ice move made tortoises and sloths look like speed demons.
The movement from small specialty stores to larger department stores was such a change. Even the Mall movement took decades.
Buying mostly online took just a few years.
This year, online shopping is no glacier. It is the lava flow from the fiercely erupting volcano that darkens the entire sky. Stand still and you will find yourself encased in lava. A Pompeiian relic of lost civilization.
“Online shopping is the doom of most retailers. They don’t need to adapt. Retailers need to start eating their young. They are too attached to defending a model that is not life sustaining.”
Shopping habits are habits
I like that imagery a lot. What better describes brick and mortar retailing than pumice?
Old retail models (read a retail market study here) cemented to the ground in superheated stone. Choked to death in pyroclastic gases. Dying as they hopelessly try to maintain and protect the storefront.
It does not take long to change shopping habits
Most of my Christmas shopping was online this year. Half of my wife’s was too. (And, judging by the numbers, yours was too.)
So, it’s not just a guy thing. Shopping habits have changed because of experience. It’s simple. Fast. Convenient.
And it is reliable. Mostly.
I had two gifts arrive on the 27th. A burp rather than a belch. Not enough to worry me. I ordered those two gifts late. Shame on me, not shame on Amazon.
As soon as logistics catch up — death arrives
How far away is same day delivery? On EVERYTHING? There is no reason to shop at a store when the logistics permit it.
So why is this such bad news for Target, Walmart, Macy’s and JC Penney? All have online portals.
Because they see it as defensive. A means to capture a small piece of the retail pie.
The danger is greater than that. They are dinosaurs. And, as such, they still want to have enough food to feed their enormous bodies.
They have a fundamental problem. Tied to expensive real estate they need to feed that furnace. Amazon plays with the idea of retail stores. But, it’s not necessary. Or needed.
You can’t imagine shopping without dressing rooms?
Shopping habits are like telephone habits. Let me list them.
“I need a landline.”
“Texting is so impersonal.”
“Who needs internet in my hand constantly.”
“Convenience is secondary to security and safety.”
Mark my words. Macy’s is the new Blackberry.
COVID-19 marketing Tom Dougherty, CEO - Stealing Share 13 July 2020 COVID-19 marketing enters a new phase: Disinfectant labeling Lost in the think pieces (including my own) of COVID-19 marketing lies something few of us considered. The effect of the...
The Zoom brand Tom Dougherty, CEO - Stealing Share 7 July 2020 The Zoom brand shouldn’t play it safe moving forward The Zoom brand is one consumer service that’s becoming synonymous with success during the global pandemic. Which is why it needs to be as...
Washington Redskins Tom Dougherty, CEO - Stealing Share 6 July 2020 Money drives Washington Redskins name change In the 1976 classic All the President’s Men, Deep Throat becomes agitated with Bob Woodward (played by Robert Redford) over his lack of...