Store closure highlights retail shift to e-commerce
Longtime Vancouver cookware store owners Jed and Regan Grieve plan to close their Cook Culture store at 377 Howe Street at the end of August, and shift to e-commerce sales.
The duo's bricks-and-mortar store in Victoria will stay open for now.
Their move out of a physical footprint in Vancouver comes as retail executives across the sector strategize and try to determine how much capital to allot to bricks-and-mortar operations compared with digital ones.
Even retail executives whose ventures are entirely online have found themselves grappling with hard decisions. Vancouver-based e-commerce furniture seller Article earlier this month laid off 216 employees, or 17 per cent of its workforce.
CEO Aamir Baig said at the time that he overestimated how much the consumer shift to online shopping during the pandemic would persist post-pandemic, and that his workforce wound up being larger than he could justify.
Jed Grieve told BIV that he and his wife wanted to close their store to focus on online sales because that channel is where their revenue growth has been.
The duo's YouTube channel has about 20,500 subscribers and they blast a corporate newsletter to approximately 30,000 email accounts.
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Edited by Victoria Watcher, 17 August 2022 - 10:21 PM.