Why Retailers Should Monetize Product Interaction, Not Sales
PSFK sat down with b8ta founder & CEO Vibhu Norby to discuss how retailers need to figure out a business model to survive the retail armageddon
Online versus offline retail today is kind of like the e-book versus paper conundrum. It’s a no-brainer that physical retailers will never be able to beat e-commerce websites at convenience and supply chain efficiencies, just like how toting around 47 of your favorite Taschen coffee table books will never be as practical as carrying a Kindle. But people need to stop thinking of physical and digital retail as an ‘either/or’ scenario when it’s more of an ‘and.’
There will always be a need for physical stores, because there are countless things you can experience inside a store that you simply can’t by scrolling a website. You can’t touch, wear or truly discover a product with all of your senses. And in today’s world, where products are more tech-driven and more of a financial investment than ever, it’s never been more paramount for consumers to learn about and fully engage with a product.