According to Shopify research, two in five local retailers are struggling to compete. And 59% say they may need to close their doors in the next two years. However, almost two-thirds of small business owners (65%) are implementing different tactics to compete with major online marketplaces.
Local retailers are improving store atmosphere (50%), offering more product variety (47%), providing better customer service (45%), increasing store hours (43%), and much more.
Local brick-and-mortar retailers are also selling online to compete, but the report says they are underestimating things that stop consumers from buying. According to Shopify, they can solve this problem with omnichannel selling and technology.