According to a recent consumer study by eMarketer, the in-store customer is four times more valuable than the online customer, making physical retail as vital as ever in our increasingly digital world. It is also well acknowledged that it is easier for retailers to sell, up sell and build lasting loyalty with consumers who are already in store, with ﬁgures showing it can be up to 20 times easier for retailers to convert and up sell in-store than online.
With such compelling statistics, the online-to-offline opportunity isn’t about simply surviving ofﬂine, it’s about thriving ofﬂine – and being perceived to be offering value in store above and beyond what can be achieved online.
For those online retailers who are interested in diversifying their business model with an offline location, yet are hesitant to take on the costs typically associated with a permanent brick and mortar, Pop Up provides the perfect point of entry into an omnichannel business model. It’s a model that allows for flexibility, cost control and increased brand presence, and a model which has found much success within the Mall Retail portfolio.
Currently Westfield Mall Retail has nearly 40 online-to-offline, or omnichannel retailers, with retailers ranging from Badricks grooming products for the “timeless man”, custom-order shirts and jackets by Book A Tailor, high-end eyewear and fashion accessories by 9Five, and local online skate shop The Salty Plank.
Interested in learning more about Pop Up and other opportunities with Westfield? Connect with your leasing manager today to learn more about our pricing and locations.