Brick-and-mortar stores attract shoppers seeking a real-world touch

Still, these brands should boost their online presence amidst the digital revolution.

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E -commerce giants like Amazon and Alibaba continue to invest in physical stores, which remain crucial to the retail ecosystem in the age of digital transformation.

"One is the unique customer experience that online can't exactly replicate," Shaakir Siraj, managing director at Kuala Lumpur-based Tri Shaas Sdn Bhd, which operates Mydin Mart, told this year's Retail Asia 2024 Summit in Singapore when asked about why brick-and-mortar stores remain king.

"To capture interest, you need to engage the senses," he said. "Whilst online shopping can offer sight and sound, it cannot provide the same experience of walking into a grocery store and smelling freshly baked bread."

Building personal connections

Global brick-and-mortar store revenue is expected to hit $21.8t this year nearly three times that of online retail, according to German data platform Statista. It is projected to hit $25.1t by 2028.

Siraj noted that whilst online platforms offer convenience, being in an actual store allows customers to buy and use a product right away.