Digital companies often partner with or acquire brick-and-mortar retailers, prompting discussions around analog vs. digital presence. Here are 9 things you need to know about blending digital and physical.
In this episode we cover questions such as:
- Why is this happening?
- Is this a blip or an actual trend?
- What should a purely digital company be learning from this?
- Does this portend a renaissance of traditional retail?
- What does a technology practitioner need to know to navigate this?
9 Takeaways:
- Some companies are partnering with legacy retail for brick-and-mortar presence
- This demonstrates that even successful digital players need what physical retailers have
- Examples of other digital companies opening physical locations (Apple, Warby Parker)
- Motivation includes things such as channel or segment experiments, acquiring new capabilities, or entering new markets
- There are challenges with partnering for physical presence vs building yourself
- The importance of experience - letting customers see/touch products - can't be overstated
- Advice for companies looking to go digital and for companies look to go analog includes partnerships, product focus, industry segmentation
- There will be issues with adoption/behavior change even with good digital enterprises
- This reinforces the idea that physical retail won't go away anytime soon