Luxury retail brand closing most of its stores, no bankruptcy
The company is making a major change in strategy as it fights to figure out a path to retail suc
Many newer retail brands have struggled with how to mix stores and digital sales. Many online only companies ultimately had to open brick and mortar locations because shoppers won’t buy certain things if they can’t touch them.
The challenge, is that physical stores cost a lot of money. That tends to cause problems with the digital only model which is at least partially based on pricing.
Related: Popular vision care chain files for Chapter 11 bankruptcy
Multiple mattress companies that had intended to be digital only brands ultimately had to open stores. That’s because people aren’t about to spend thousands of dollars on a mattress without knowing if it’s comfortable.
Yes, can have a good return policy, but nobody wants to deal with having to return a mattress. It’s very similar with things like eyeglasses and even clothes.
There’s a reason why digital sales have hovered about 15% of total retail sales. People still like shopping in person.
