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Outside of logistics, e-commerce has had a big effect on retailers in general. And not just the big boys like Walmart or Target.
Even mom-and-pops have finally begun to figure out how to compete. Hartman Simons' Jeremy Cohen explained a few trends during a recent breakfast function in Sandy Springs. Among the trends he highlighted:
Smaller retailers are investing more money in an online presence to offer more BOPUS, an acronym that stands for "buy online, pick up at the store."
Retailer square footage is shrinking, forcing stores to hone their target marketing and invest in website presence.
Smaller chain retailers have focused on better distribution between stores. If an item isn't in one store, the retailer will ship it from another.
Private-label brands are ruling the day, especially those designed in-house by a specialized team, such as Costco's Kirkland brand. "Brands created inside an organization allow the company to bring in fresh product more quickly to help serve fickle consumers," Jeremy says.
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