LBM Covers Holiday Spirits 2016Q4 and Shop Lawrence 2013Q4 Right: LBM Issue 2012Q4, Joe Flannery (left), Brady Flannery (right), and Weaver’s Christmas Bow
by Sarah Ngoh, photos by Steven Hertzog
Consumers’ expectations of products and services, as well as their shopping practices and habits, have dramatically changed in the last decade, forcing businesses to follow suit or close. The world of retail has changed significantly since the first publication of Lawrence Business Magazine in 2011. How have local retailers adjusted to these changes? Four local retail businesses tell us what they have been up to since we last spoke with them and what changes they have faced this past decade.
comfortable serving themselves or using technology rather than interacting with others to accomplish their purchasing tasks.
There is no denying that the last decade has seen a huge increase in online and mobile shopping—Amazon dominates this trend with its easily accessible website and mobile app, as well as its quick delivery, forcing smaller businesses to offer similar services if they want to compete.
Stores that offer discounted or used items have also become increasingly popular in the last 10 years. At local discount stores, for example, shoppers can find great deals on name-brand items. Thrift shops are extremely popular with students—and not just those on a fixed budget—while online resale stores like Poshmark and thredUP are ideal for shoppers looking for gently used items at a good price. This trend toward sustainability—reusing clothes rather than throwing them in a landfill—is no doubt better for the environment.
Self-service options have also become more common in the last 10 years. Consider, for example, the number of self-checkout kiosks in Targets and Walmarts compared to the number of open checkout lanes. If you’ve been to the airport recently, you probably noticed the self-checkin kiosks, where travelers can check their own bags and print their own boarding passes. Or perhaps you’ve been to a movie theater and purchased and printed your tickets at the self-service kiosks in the building’s entryway. During the last 10 years, consumers have become more
The rise of social media has also significantly influenced retail during the last decade. According to Statista, 3.78 billion people—about 48% of the world’s population—use social media. On average, a person spends 2½hours per day on social media (DataReportal 2021), and 54% of browsers use social media to research product details (GlobalWebIndex, 2018). Social media platforms are not only important sources of news and information, they also offer retailers a unique way to interact with customers. Social media offers retailers the opportunity to share
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