Brick and Mortar vs. Online Competition

Retail giants like Sears and Kmart are blaming online competition as the reason for recent store closures.

(NBC News) Sears, Kmart and Macy’s are among the retail giants announcing massive store closures this year, with online competition getting the brunt of the blame.

Some experts believe online businesses are forcing brick and mortars to flex the big advantage they have: customer service.

“You can buy almost anything online that you can buy at Lowes, but why would you buy it at Lowe’s? Because you’ve got somebody at the appliance section telling you what the difference is,” says Queens University Professor Steven Cox.

Cox also believes reducing the size of stores could be a way to adapt.

“You’ll probably see companies like Macy’s and Sears either downsize or maybe they aren’t going to be here in 15 years.”

Read more: http://nbcnews.to/2o6YjSY