As industries change, the technology changes to favor the growth by admitting that the world is changing against one’s interest. In particular, more retail spending is moving online thus we need and desire less bricks and mortar retail space. The online retailing will also not have any downfall in employment, since it too occupied vast opportunities for skilled labor. The most common factor many blame for the decline of malls is online shopping, but still it has a very small effect on it. Less than 10 percent of retail sales take place online and those sales tend to hit big box stores harder rather than the fashion chains and other specialty retailers. Interesting fact is that the growing passion on updated trends have revolutionized the online shopping outlets than any kind of stocked shopping malls.
Online competition among outlets
Committing to online retailers will not create any huge impact on in store retailing as well as shopping malls. In UK, about 80 percent of the country’s 1200 malls are considered healthy. Here it insists that the marketing is on its way to set high with positive response from domestic consumers. While tracking the mall industry, it is evident that more than two dozen enclosed shopping malls have been closed since 2010. The most crucial thing that still holds the malls from brink of extinction is its cultural retailing trend.
Well aware of the cultural dimensions as well as the economic stakes, the online retail outlets have also entered into competition to achieve the best social perception. With all these strategies going on its track, the places that were, where people simply went to shop is feeling the real brunt of that online competition. Simply, one can’t conclude that all malls are drowning, since the high-end malls are in its peak with only middle markets falling prey to online retailing. In addition to all kind of efforts taken by shopping sites, the offer zones like Chameleon John also have a complementary role in improving virtual shopping.
Social edge of retail outlets
The social feeds have special significance as it can take real picture of the product, what your friends think on the product and what a real celebrity look is. The UK spends more money per head online than any other developed country, with the average Britain spending £2,000 per year. It composes around 59 percent of people with positive attitude of using online shopping at least once a week to buy products. Of the world’s developed economies, only Germany and China had a higher percentage of people using online shopping. However, the UK spends the most money per head when online shopping. In addition to all other developments, there was also an increase in the amount of mobile shoppers in the UK. About 16 percent of the people are saying that they had used mobile devices to buy a digital good or service which even includes music and game downloads. Still there are few not recommending online services, mainly due to concerns on security and privacy. Simple click and collect processes seems to attract huge consumers towards online marketing and this made the online retail outlets to grow with incredible investments.
Article Submitted By Community Writer.