Week 10: Physical Stores and Virtual Brands
Online brands have carved spaces online for themselves and created thriving marketplaces over the past couple of decades, and there are more options than ever for a brand to set up virtual shop and create a following for their work. Even a couple years ago, people were not as dedicated to brands that were not local or chains. However, with a growing market comes a growing threat: advertising costs rising. As more eyes are on webpages, the more a brand will be forced to pay for screen space. However, as a New York Times article from March 23, 2022, sums up in a title, " Online Brands Try a Traditional Marketing Strategy: Physical Stores. " The article covers a few online store-owners and their explorations in short-term and long-term physical locations, and how physical stores allow the "customer acquisition cost" to be wrapped up in the cost of the building, whereas the "cost of acquiring customers through social media advertising 'has become prohibitive,...