Customers have embraced online shopping, spending $861.12 billion online with U.S. retailers in 2020, up 44% from 2019. While the move to selling and shopping online was accelerated by the pandemic, it’s now changed consumer behavior and there’s no going back.
Retailers are now implementing the BOPIS (Buy Online, Pickup In-Store) sales strategy, which has resulted in greater conversion of online customers to in-store foot traffic. Not only that, but virtual stores provide a preview of what a physical business store has to offer. The majority of customers' decisions are influenced by what they see online prior to visiting actual stores. This alone has a significant impact on increasing in-store traffic and sales.
It is true that physical locations will remain an essential element of the shopping experience. However, brick and mortars need to reinvent their strategies to bring valuable in-store experiences to shoppers. They should be able to complement virtual shopping with an engaging in-store experience.
The pandemic's end will not mean the end of virtual stores. It is here to stay and will continue to help businesses to thrive. Solutions like VirXpo™ can help you navigate through the process of leveraging virtual stores for your business growth.