Steven Kay

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Life Business and Money - Retailer Outsmarts Smartphone Shoppers

  Broadcast in Business

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Online retailers have been a threat to bricks-and-mortar retailers.  It is more convenient to purchase products locally, of course.  But when you go into a retail store and see an item selling for 20% higher than you find at an online store, well, it's hard to justify spending the extra money sometimes.  Consumers have been going into retail stores to examine and test merchandise and then going home to order that exact item online at a lower price.
 
The problem has gotten worse as more people are using smart phones.  This makes it possible to compare prices right there in the store.  Retailers are faced with a serious problem.  How can they charge what they charge when it's so easy to see what the online stores are selling the exact same item for?  If you were buying a laptop for $800 and could get the same item for $700 with free shipping and no sales tax, wouldn't you?  
 
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