Home and garden store-based retailers have been slow to react to the online onslaught. Only recently have leading store-based retailers implemented digital strategies (e.g. online sales, augmented reality and virtual reality etc.) to counteract pure play internet retailers. Innovation doesn’t just stop there, with store-based retailers using Bluetooth technology and mobile apps to quicken customer check-out times and order out-of-stock items in-store.
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Despite a relatively low percentage share, internet retailing was the fastest growing distribution channel over 2012-2017. Numerous home and garden pure play internet retailers (e.g. Casper, Pepperfry etc.) emerged over the period, operating as marketplaces or direct-to-consumer companies. Online players are putting pressure on store-based retailers and wrestling away market share.
Home and garden store-based retailers, particularly home improvement and gardening stores, have been slow to react to the online onslaught. Only recently have leading store-based retailers implemented digital strategies to counteract pure play internet retailers. Omnichannel strategies (including online sales, augmented reality and virtual reality) are no longer a choice, but a necessity for store-based players to compete for share of wallet.
Improving delivery services remains a key priority for online and store-based players alike in the home and garden industry. But, fast and efficient delivery comes with a hefty price tag. Heavy or bulky products can be costly to transport, so store-based retailers have focused their efforts on click & collect strategies, while also investing in distribution warehouses to facilitate speedier delivery times.
Mergers and acquisitions are becoming more commonplace between store-based retail giants and smaller online set-ups in the home and garden industry. Store-based players anxious about the popularity of online brands, particularly amongst millennials, have sought to partner with these brands or acquire them outright.