Despite the widespread prevalence of online shopping, brick-and-mortar stores still hold a significant space in the retail landscape—72% of U.S. retail sales will still take place in brick-and-mortar stores in 2024, according to Forrester via the National Retail Federation.
The term "brick and mortar store" originates from the materials used in constructing physical retail establishments—bricks and mortar—signifying their tangible presence.
From fostering personalized customer experiences to growing roots in your local community, a physical retail location offers some unique advantages. Whether you’re looking to expand your e-commerce business or thinking of starting from scratch with a brick-and-mortar location, success starts with understanding how the brick-and-mortar/physical retail industry works.
We’ll break that down, plus the advantages and disadvantages of opening a physical store and important considerations before doing so.