Retail is transforming, not declining. Physical retail is still essential despite evolving consumer behaviors. Retail sales are expected to grow by 2.5% to 3.5% this year, with nearly half of consumers planning to shop in-store this holiday season. (Source: NRF) Take Kizik, our portfolio company known for its hands-free shoes, is capitalizing on this trend by doubling its retail presence last week with three new store openings. Why are physical stores strategically important? ?Shoppers want to see, touch, and feel products—and in-person advice. ?Stores legitimize brands and build trust within local communities. For Kizik, shoppers have an “aha moment” when they experience the shoe’s technology. When trying on a pair of Kiziks, the conversion rate is over 70%. Touching and feeling the shoe also starts a chain reaction–many shoppers immediately think of someone in their lives who would love a pair. This ‘pay-it-forward’ mindset strengthens the brand and an overall sense of community. Big picture? Brands that harness the power of retail–thoughtfully incorporating it into their strategy–will continue to win customers and their loyalty.
Big things are happening at Kizik! We just opened our 4th retail location in Cherry Creek, bringing the magic of hands-free shoes to Denver. This milestone marks another step in our nationwide expansion, with retail being a major focus this year. And we’re not stopping there—TWO new stores are opening this week! Stay tuned for what’s next.