adopt the brick and mortar model
As a retailer, I would adopt the brick and mortar model. One of the challenges faced by Vanca was the difficulty in adapting to the digital platform in terms of marketing and online presence. While the digital mode of retailing has been a disruptor, purely online businesses only account for 5% of, while an additional 5% are multi-channel, this is to mean atleast 90% of retail sales are happening in physical shops. The future of my retail business will, therefore, depend on solidly brick and mortar since the majority of people prefer to shop physically. Consumers like to have a sense of experience as they feel products and immerse in brand varieties as they interact with salespeople.
This will give my customers the first try out of goods before they purchase. Secondly, this physical will be a complementary outlet to my online premises since the online premises have also had a fair share of issues ranging from logistics to low market. The venture is thus most likely going to optimize our physical presence while at the same time improving our online presence. The biggest challenge would be the limitation of the type of products we deal with. For instance, consumers of electronics would always wish to have the first-hand experience of the product before buying it, making it an ideal venture. However, clothing and cereals have nearly gone the digital way, and this puts a limit to the kind f goods one would deal in when either going online or the brick and mortar way.