Move over Amazon, you’re starting to get some real competition. Retail giants Target and Walmart are starting to truly get their digital act together, offering shoppers a more seamless option to purchase online and pick up in stores, rather than waiting for packages to arrive at their doorstep. Amazon’s certainly not going away any time soon, but other retailers are beginning to not just take notes, but do something to challenge the go to site for e-commerce.
The other side of this online coin is that many stores will opt to shutdown some of their brick and mortar shops in favor of growth in online shopping. As e-commerce continues to grow, stores are looking at how to balance the online needs and that could mean smaller and fewer stores for some. Take American Eagle for example, who plans to close down 15 stores in 2015, according to this Bloomberg Intelligence research.
Retailers that are sticking around are realizing they might need to add to their offerings to coax consumers into their stores. One way is to woo them with food as we’re seeing in Macy’s and Urban Outfitters. Starbucks also continues to partner up with traditional department stores like Macy’s and Target to expand retail offerings and entice shoppers to step inside.
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