Continuing with our Weekly Wrap Up series, we bring you a compilation of articles and news from the world of eCommerce. The Gap Inc attempts to narrow the distance between traditional brick-and-mortar retail and eCommerce with its inside store pickup strategy, 90% of retail commerce remains in physical stores prompting Etsy to announce it’s plans of acting as a wholesale platform for its online retailers, and lastly, increasing rental prices for retail spaces are forcing retailers to shut its doors on some of its physical spaces however pop-up shops are increasingly becoming a popular way for retailers to reach new customers.
The Gap Inc attempts to narrow the distance between traditional brick-and-mortar retail and eCommerce, through its latest inside store pickup strategy. The Gap’s latest attempt at creating an Omnichannel experience, is a the company’s way to build upon its existing efforts to further connect its mobile based retail initiatives and continue its eCommerce revenue growth.
Etsy’s site has over a million sellers generating $1.35 billion in sales last year. Despite the increasing Internet retailing market, over 90% of retail commerce remains in physical stores. Instead of opening physical locations, Etsy wants its sellers to take wholesale orders via the eCommerce platform. After a year in beta, Etsy plans to make its wholesale role official. “If merchandise form Etsy sellers can be available in thousands of stores, as opposed to in a handful that we could possibly run ourselves, then it’s better for our sellers and it’s better for our buyers,” Chad Dickerson, CEO of Etsy.
Finding New Customers With Clicks-and-Bricks Strategy
With increasing rental prices for retail spaces and the growing popularity of online shopping, some Canadian retailers are forced to close down their brick-and-mortar locations. Earlier this year, Sears announced it was closing its doors, while the World’s Biggest Book Store in Toronto also shutdown. Even Chapters Indigo announced the closure of one of its largest Toronto stores by the end of May. Although the closure of retail spaces potentially signal financial crisis as a result of new consumer shopping habits, pop-up shops are increasingly becoming a way for large brands and small businesses to find new customers.