How to Re-Imagine Your Storefront for the Future

 E-commerce has already dramatically changed the situation of former physical shopping. Customers use online shopping to get better deals and use physical stores get more information about products.  In order to maintain or improve the business, the store will be the venue for many different activities that will reinforce digital sales. Many stores have re-imaged themselves to get more profits and advertisements. The methods are as follows:

  •  STORES AS SHOWROOMS: Tesla Motors do transactions online; instead, stores are only being as a showroom.
  • STORES AS COMMUNITIES: in order to increase loyalty and ultimately sales, many stores combined the function of community service. Such as Williams Sonoma offers cooking classes, Apple has training sessions, iTunes offers sessions featuring famous musicians, and REI has a huge rock-climbing wall. The most successful community builders are the retailers who bring some of the best practices of online content marketing in-store.
  • STORES AS FULFILLMENT CENTERS: some stores uses their stores as fulfillment. It’s good for fast delivery.
  • STORES AS MANUFACTURERS: fast food stores can be good examples because they manufacture the food at present and deliver immediately from the store.
  • STORES AS BILLBOARDS: building up the stores as a good advertising tool is a cost efficient way to promote the store at the same time increase sales such as some driving through stores.

Digital doesn’t mean the end of physical stores as traditional venues for sales, but the potential of stores to operate as showrooms, community centers, fulfillment centers, manufacturers, and billboards is strong and will help drive your digital sales.

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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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