Traditional retailers often complain about online shopping hurting their business.
Ryan Kratz, President of Colliers International Florida, has another take. The real issue, he says, is that many brick-and-mortar retailers don’t provide their customers with the experience they are seeking.
“Macy’s and Sears haven’t changed their stores in 30 years,” he said recently at the Urban Land Institute’s Florida Summit in Tampa. “People want an experience in a store. Otherwise, why not buy online?”
One solution: Augmented and virtual reality will revolutionize the way retail products are viewed and sold, and will minimize returns and re-work simultaneously.