The Advantages Of Shopping In Person
With online shopping being so convenient, retail stores have taken a major hit. Is there more that retail stores should be doing? In this episode, Dan Sullivan and Jeffrey Madoff discuss what physical stores can provide that online stores can’t.
Show Notes:
Two problems: Two problems in retail are customers thinking store staff don’t care, and customers thinking store staff are being pushy.
Establishing trust: An important factor in retail is establishing trust as a foundation for the relationship.
Doesn’t exist: Advertising and marketing often try to sell to a norm that doesn’t actually exist.
Humans buy experiences: Humans buy experiences, which usually get packaged in the form of products or services.
Missing a brand: If what you sell is missing experience, you’re missing having a brand.
Price and efficiency: If it isn’t about experience, it’s only about price and efficiency.
Long before COVID: Retail business was in decline long before COVID.
Service and attention: Customer service and attention differentiate retail stores from online shopping.
Same day: While online stores brag about next-day delivery, in-person shopping means you have the product the same day you buy it.
Interested, not interesting: Retailers are trying to be interesting, but we value retailers that are interested.
Biggest danger: The biggest danger in an entrepreneurial life is loneliness.
You don’t know: You don’t know what you know until you have to communicate it to somebody else.
Resources:
The Strategic Coach Signature Program
Your Life As A Strategy Circle by Dan Sullivan