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April 1, 2014
It's the Experience, Not the Time
 
Brick-and-mortar businesses are having a tough time. Yes, according to several recent reports, consumer foot traffic has been decreasing gradually for several years. Unless a change is made, many businesses without a strong web presence will have to face some difficult decisions.

So what is a store to do?

When you want people to come through your doors, there must be an incentive for the customer to go. When conducting a benefit/cost analysis, the customer must realize that the benefit of coming to the store outweighs the cost.

Stores need to provide a better experience.

For example, we think Nordstrom does a great job at providing an experience and protecting the brand. Nordstrom provides live music, knowledgeable staffers, and in many cases, a café-like experience.

Whole Foods is another store with a good handle of providing an experience — letting customers drink wine and eat cheese while shopping.

The brick-and-mortar business — as it is now — is old fashioned. Brands need to create a better experience and give customers a reason to get out of their pajamas to visit a store.

It'll take some work, but it can be done.

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Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.
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