At Focal Systems, we believe that there will always be a place for brick and mortar retail, particularly in the grocery space. Customers want to touch and smell fresh produce, to personally select health & beauty aids, to explore new products, and they want the instant gratification of being able to run into a store and buy what they need. A study by Rutgers University shows that consumers spend 6 times more in brick and mortar stores than they do online, and 78% of shoppers prefer buying in stores vs. through the internet. This explains why offline retail still makes up 90% of total retail purchases globally, or $20 trillion dollars!
Topics: Retail Finance