Consumers’ desire for convenience is driving changes at the retail level that could have broader implications for even the smallest businesses.
According to new research by Chris Daniel, of the Ryerson University Centre for the Study of Commercial Activity (CSCA), retailers are increasingly adding groceries to their product mix to create a more convenient shopping experience for customers.
Whether it’s Walmart and Target adding groceries, or mass marketers adding fitness centers and pharmacy services, the desire to be all things to all people is driving retail change.
“Every single store location has an inherent convenience factor. If you are able to offer something else at that store that they need, that’s some additional revenue that you wouldn’t have had if you just stuck with your regular offerings,” said Daniel.
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