The online marketplace is in full swing and retail stores are failing because of it. What are stores to do?
Jenny Cermak, Guenièvre Lasalarié, Abe Levavi, and Joseph Tesvic Open share their views in this fascinating piece on McKinsey & Company. It’s called Retail ghost town and they make some interesting perspectives such as this one:
Over the next 5 years, we expect the need for selling space to decline by more than 10 percent in the mid-case for some categories. Of course, these estimates are sensitive to assumptions, meaning retailers need an eagle eye on how online penetration and transaction intensity evolve.
They also have some suggestions that you might want to look at so do give the link below a click if you want to read about them…