...Physical Retailers Become Digital Retailers... Digital Retailers Become Data-Optimized Physical Retailers... Physical Retailers Evolving & Increasing E-Commerce Presence...New Products / Brands / Retailers Launching Physical Stores / Showrooms / Retail Channels...Omni-Channel is Key...Warby Parker @ $3K Annual Sales per Square Foot = One of Top Grossing Physical Retailers per Square Foot in USA Offline  Online Online  Offline (Neiman Marcus) (Warby Parker) 26% of F2015 Sales on Internet, +24% Y/Y 31 locations (5/16), up from 10 locations (12/14) Top 5 Physical Retailers by Sales / Sq. Ft., USA, 2015* Apple $5,546 Warby Parker $3,000 Tiffany & Co. $2,951 Lululemon $1,560 Athletica Michael Kors $1,466 Source: Company filings, Fast Company, Time, eMarketer Image: Pursuitist.com, Digiday.com, Warbyparker.com KPCB INTERNET TRENDS 2016 | PAGE 64 Note: *Excludes gas stations. Based on sales figures from trailing 12 months. Warby Parker figures as of February 2015.