Brick and mortar is dead. Or at least, according to some. Naysayers have been ringing the death knell of the retail store for some time. Online commerce is booming, with online sales totaling $341.7 billion in 2015, a 14.6% increase over the previous year, according to the US Department of Commerce. Last year, ecommerce accounted for 60.4% of all retail sales growth.
I've had the opportunity to meet with retailers across Europe the past three weeks. It is always refreshing to get a perspective from outside of your own country. One of the most asked questions in Europe was: "Should prices in store match those online?" This is a critical question in countries like the U.K., where online now accounts for as much as 40 percent of sales in some categories.