The discussion of physical stores becoming irrelevant has been a topic of conversation for years. The first online purchase was made in 1994. People said this kind of business would never work. People would never buy online. Well, never say never. Shortly after that Amazon came into the picture. And, here we are today. So, should retailers be scared? Maybe… because some retailers aren’t willing to change. And there are companies in virtually any industry that aren’t willing to change either. So, here is the lesson:

Business – in all industries – is changing. The old saying is true: The only thing that is consistent is change. So, get used to it.

Will online stores kill physical stores?

Did ATM’s eliminate bank tellers?

Did “Video Kill the Radio Star” when MTV went live back in 1981?

The answers are no, no and no!

Maybe the consumer is migrating to do more shopping online. It may make a physical store a little less “relevant” – but it doesn’t make the retailer less relevant! A retailer, as anyone or any company in business, must adjust and change.

Your customers buying habits are changing. Adapt or watch your business die a slow and painful death. You must be willing to change as your customer’s change.