Are brick and mortar stores making a comeback?
It has been more than a year since the Covid-19 pandemic ravaged the globe, and a new digital normal has seemed to emerged in the past year. Singaporeans are working remotely, attending classes, and ordering groceries online.
The pandemic has also revealed the opportunities and limitations of Singapore’s e-commerce sector. Most retailers have realised that going digital is one of the best ways to reach their customer base, and have developed an e-commerce strategy.
In short, Covid-19 pandemic has pivot businesses to go into digitalisation. From retail stores, skincare products to F&B businesses, they went digitisation in just a few months.
But here we have a home grown local fashion retail brand that went from online store to a brick and mortar store.
Love, Bonito’s opening of its biggest physical store in Funan in 2019. This is the brand’s third brick-and-mortar store in Singapore, bringing the total in the region to 19.
And last year October 2020, they made the bold move of opening its fourth outlet in Singapore at VivoCity despite the Covid-19 pandemic.
Spanning over 4,300 square feet, it is designed to bring in elements of outdoor serenity for an indoor respite amidst the bustle of the human traffic in the mall.
Another brand that joined Love, Bonito in expanding physically is French sporting goods retailer Decathlon, which opened its fifth experience store, Decathlon Orchard, at The Centrepoint shopping mall.
For those who are not familiar with the terms. Here’s the explanation. A brick and mortar store is a business or retail outlet that has at least one or more physical location. Traditional stores that you find in your local shopping mall are known as brick and mortar stores, for example.
Although the overheads associated with a brick and mortar store are far higher than if your business is simply an eCommerce venture, the necessity for a brick and mortar store for the highest conversion rates is becoming more pronounced. So in this article, we will explore the reasons behind this business strategy for Love Bonito.
Many customers still prefer a brick and mortar store where they can physically view the product before buying it as well as asking the advice from physical rather than virtual shop assistants. There are nice fitting rooms for you to try all kind of designs before you make your purchase. Most importantly, you can try out different sizes instead of purchasing online to find out it does not fit you and you need to go through the trouble of return and exchange.
In fact, just 10 years ago you may have heard many analysts calling for the end of the brick and mortar stores. They were called old-fashioned, and the rise of the internet and ecommerce was going to close all physical stores.
So is Love, Bonito’s move a step back? Actually, it is a step forward.
We know now that this hasn’t been the case. Shoppers like myself have turned to online sources for research and information, browse through all the latest new arrival and then visit their physical stores – a brick and mortar store to make the actual purchase to try and make purchase. I recalled visiting the outlet at Funan, I enjoyed a bespoke experience. For example, Love, Bonito’s new store will feature instagrammable spots, alteration services and personal stylists.
In conclusion, the thing is marketing has grown more sophisticated, aiming to provide the customer with an integrated, seamless shopping experience online and offline.
We believe that at the end of the day, nothing will replace human interactions. Customers expect convenience, but they crave connection. It is also a good way for brands to have a point-of-contact with its customers, allowing it to receive feedback which could be instrumental in product development.
Furthermore, having a physical store creates greater visibility for a brand which can translate to more sales, both online and offline. While businesses cannot avoid having on online presence, they also cannot be wholly reliant on it. Brands have got to understand what different segments of customers want and how they shop, both online and offline, and target them accordingly.
Love, Bonito is the largest homegrown fashion brand created for real women, by real women. Love, Bonito offers a wide selection of quality workwear, casual wear and occasion wear.
Funan will be home to Love, Bonito’s largest physical store in Singapore. The shop will have instagrammable spots, an express e-commerce counter, and on-demand stylists. The store will also hold workshops and events to bring the community together to experience the brand.
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