Future Retail Business Opportunities

I was visiting with a friend the other night, and we were discussing the developments in the retail space and the ramifications of ecommerce on more traditional brick-and-mortar. Now, we all know that the internet craze of the late 90s was a little left-of-center when everyone was forecasting the doom of brick-and-mortar. However, I think there will continue to be some level of doom for the traditional brick-and-mortar as we know it today.

Think about it, I'm in my mid-20s, and I make over 50% of all my consumer purchases online. Why? Because it is faster, more convenient, 95% of the time cheaper, and I don't have to pay for gas (see my rants below on gas prices). But, even more important with my purchases, I many times still physically experience the product before making a purchase. In other words, many times I'll visit traditional brick-and-mortar retail locations to learn more about the product, handle it, and look it over. Then, I go home, on the net, and find the lowest price and make a purchase.

Come on, this behavior is nothing new. Almost everyone I know does similar things with their purchases. Many brick-and-mortar mom-and-pop shops complain of this kind of behavior. But, in my mind, this behavior presents a business opportunity. Consumers will always want to physically interact on some level with the product before making a purchase. So, if many brick-and-mortars are going to struggle because of increasing purchases online. Then, where and what is the way to allow consumers an opportunity to touch, feel, taste, smell etc. the product before making the purchase.

How can you blend the benefits of the brick-and-mortar, with the convenience and price of ecommerce. Perhaps offering a line of credit to customers, allowing them to "demo" a product for a period of time before choosing to buy it or return it? I can see it now, an ecommerce retail site offering their customers the opportunity to order, receive, and experience the product in person before having to decide whether or not if they want to purchase it. If, after a set time, say 15 days, the customer doesn't return the product, the ecommerce site automatically bills their line of credit. Otherwise, the customer returns the product. Or, even better, the customer then ships the product to another customer, who has requested the same product and wants to "experience" it before making a purchasing decision. Thus, creating a community where customers "share" with eachother.

Customizable, community-driven, customer experiences. Just think!!

Customer Made is huge!!