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MEETING DEMAND
What retailers can learn from the Barbour jacket to thrive in the eCommerce sphere
By Ed Bradley
The global online retail sphere is poised for substantial growth , with analysts forecasting a staggering $ 8.1 trillion by the end of 2024 . In response , retailers face the imperative of keeping pace with the evolving demands of tech-savvy consumers . Now , as 70 percent of shoppers seek a blend of multiple touchpoints between online and in-store experiences when making a purchasing decision , sustaining consumer attention hinges on a commitment to innovation . On top of this , navigating complex logistical challenges becomes essential for retailers striving to stay competitive , achieve scalability , and ensure long-term business viability .
Enter Barbour , a British love story dating back to 1894 . It stands as a testament to a British brand that has withstood the test of time . How did this farmyard companion evolve into a Glastonbury staple , and go on to capture the attention of Gen Z ? This prompts intriguing lessons in how traditional retailers can draw from Barbour ’ s legacy and thrive as they step into the eCommerce sphere .
Marketplace dynamics : convenience vs . brand
To broaden your customer base , opting to sell via a digital marketplace such as Ocado or Boohoo may suit the ambitions of retailers looking to showcase goods alongside a spectrum of merchants . Like participating in a traditional market day , vendors set up stalls to sell products and connect with potential visiting customers . In the digital sphere , marketplace platforms serve as intermediaries , hosting multiple vendors and linking them directly with online browsers . If your primary product range is confined or doesn ’ t encompass specific categories , a marketplace model offers a viable avenue for venturing into eCommerce .
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