Best Retail Brands is Interbrand’s annual report on the world’s most valuable retail brands by country/region.
|Scooped by Rebecca Taylor|
This article sheds some real light on the current situation of traditional retail and suggests the future of the industry is not in jeopardy, as some research would suggest.
"Predicting that people will do without stores is like saying that movies will disappear. If we can read the script online, we won't need to see the film."
What a true statement and perfect analagy of the retail experience. It is not just the clothes or the shoes (or even the groceries to some extent), it is about the EXPERIENCE. It is the environment of a shop and the way one feels when they visit. You get to immerse yourself within a store, sample some food or try on a dress and decide whether or not you want to purchase.
The development of e-commerce and the alternative consumers now have to shop online means that brands are pushed and challenged. Not only are they competing with other brands, they are being forced to compete with themselves to some extent. They need to become more than just a store, more than just a means to an end. They need to create a collective identity and synergy throughout everything they do.
The introduction of online shopping should not mean the end to the retail industry as we know it, it should be a push, a gentle nudge for retailers to up their game and be better. To develop a brand that encompasses everything they are and everything they hope to be.