By Eric Stock
WASHINGTON – Gordmans, Payless Shoes and GameStop are the latest national retailers to announce store closings, but the National Retail Federation said brick-and-mortar stores are still alive and well.
Spokeswoman Ana Smith told WJBC’s Scott Laughlin and Patti Penn, while online giants like Amazon are taking business from many retailers, many virtual retailers see value in having a physical location.
PODCAST: Listen to Scott and Patti’s interview with Smith on WJBC.
“Companies online that never thought about buying on taking on a lease, they are actually planning on doing that starting now and they have been over the last couple of years,” Smith said.
Amazon plans to open 300 stores in the U.S.
Smith said many retailers who took advantage of cheap real estate after the recession are paying the price now because they didn’t anticipate a dramatic change in consumers buying habits over the last decade.
“They go to brick-and-mortar stores for major purchases like jewelry, furniture, bedding and things like that versus buying the everyday items like toiletries,” Smith said. “They tend to leverage online shopping for that a little bit more.”
She added many retailers are shifting their focus by devoting more resources toward an online presence or expanded warehouse space.
Smith added post-millenials could be reversing the trend of online shopping as many from the so-called Z generation say they prefer the nostalgic experience of shopping in a store.
Eric Stock can be reached at [email protected].
