Digital transformation, omnichannel retail, and personalization are the keys to survival for traditional retailers.
ATLANTA, GA October 25, 2023 /PRNewswire/ — Nexcess, a premium hosting provider optimized for WordPress, WooCommerce, and Magento, today released a report on the changing economy and its impact on the declining traditional commerce sector.
This report reveals why traditional commerce growth is being held back, future-proofing strategies for digital transformation, and the steps brick-and-mortar retailers must take to survive.
Read the report: Collapse of traditional commerce
The brick-and-mortar business has faced tough times in recent years. Technological innovation, the pandemic, and changing consumer habits are all contributing to slower growth in the traditional commerce sector.
Meanwhile, e-commerce sales are growing rapidly, with overall retail sales increasing 0.5% from Q2 2022 to Q2 2023, while e-commerce sales grew 7.7%. Increased.
Brick-and-mortar retailers aren’t as agile or scalable as fully online retailers, which hurts their business.
In fact, the number of Chapter 11 bankruptcies increased by 68% in the first half of 2023.
While online purchases continue to rise, overall retail sales remain largely stagnant, creating challenges for the traditional commerce sector.
However, there are steps brick-and-mortar retailers can take to stay competitive and meet consumers’ evolving needs.
Retailers are learning that options like curbside pickup can attract customers. In fact, the product has grown 66% year over year.
“It’s interesting to see consumer behavior continue to evolve faster than ever,” said Reid Pifer, VP of Creative at Liquid Web.
“Nexcess’s mission is to help businesses that want to make money online, and we hope our report will help brick-and-mortar business owners embrace digital transformation and meet consumer expectations.” We are transformation-focused and take pride in helping organizations of all sizes start, manage and grow their online businesses, and we’ve been doing this for 23 years.”
Nexcess offers a wide range of products from enterprise level to small business to entry-level markets, supporting sites and stores around the world with fully managed hosting for WordPress, WooCommerce, Magento, and more.
Read the full report to learn more about the evolving commerce landscape and how to digitally transform your business. Collapse of traditional commerce.
To learn more about best-in-class hosting, visit: Nexcess.net.
