Several months ago, we were early in a national shutdown amidst the rapidly escalating pandemic. I wrote then, as we were entering Q2, that “what you do now will determine the rest of your year...and beyond.”
And now, here we are, days into the start of Q4… how are we doing?
Well, for many, the news has not been good. We’ve written before about the troubles brick & mortar is facing amidst the growing preference for online. But a recent report shows just how much the decline has accelerated due to the impacts of COVID-19. Nearly 6,000 retail locations have closed or are in the process of closing this year. This is only only matched by 2010 numbers.
Fears of a receding economy have caused an overall decline in spending (down ~10%), despite significant increases in online purchasing (+18%). Yet this has not been enough to offset the losses of in person shopping.
And there’s this: “I don’t think it’s going to stop anytime soon,” Andy Graiser, co-president of commercial real-estate advisory firm A&G Real Estate Partners, who advises Tailored Brands, Ascena, Neiman Marcus and Stein Mart, among others.
Which means those who’ve relied on brick and mortar need new solutions to better leverage their online presence, to support any physical locations they wish to keep. Consumers who have remained at home for so many months have re-learned how they shop. And as such, every product maker must re-learn how they go to market.
Driving 30 minutes to see if something’s available. No thanks.
Driving 45 minutes to visit a dealership. Nah, I’ll pass.
Getting online and seeing what’s in stock, viewing available products, making product choices, completing my purchase and then scheduling delivery or pickup… Ya, I’m in for that.
This is the new mindset. But to meet it brands will need new tools. This is where we come in. A platform like ATLATL Visual will bring your products to life on screen so customers can visualize it, configure it, and even preview it before they buy through AR.
A visual buying experience is the impactful solution to today’s modern challenges.