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Retailers Seek Faster Growth By Combining Physical Stores With Online Operations

February 11, 2014: 12:00 AM EST
Startup company Storefront offers brands an online marketplace that it claims combines the benefits of having a physical store with the advantages of online-only retail operations. Storefront’s concept allows brands to avoid overhead costs, including long-term leases, while offering consumers engaging, physical selling experiences. Before ecommerce had become widespread, brands would have to compete with each other for shelf space and access to customers. Online retail has weakened brick-and-mortar retailers, while empowering anyone with a product and a website to build their own sales channel. Online retailers, however, have discovered how physical stores can help drive sales and expand reach to new customers. Even online retail giant Amazon.com is reportedly planning to launch its own brick-and-mortar operations.
Dan Reich, Contributor, "How Retail Is Evolving In An On-Demand Economy", Forbes, February 11, 2014, © Forbes.com LLC
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