Physical retail sales have declined so much in the past few years, due to online sales. But some physical stores in Singapore are still thriving. What do you think attributes to their success? Any examples to share?
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Physical retail sales have declined so much in the past few years, due to online sales. But some physical stores in Singapore are still thriving. What do you think attributes to their success? Any examples to share?
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I think the stores that are thriving have really adapted to changing customer needs. It’s not just about selling products anymore.. it’s about the experience.
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IKEA wud be a good example.. they’ve built a whole experience around their store visits, from food to home inspiration. It’s all about giving customers a reason to step into the store, not just shop online.