Brick and mortar stores are struggling to compete with online shopping as shopping mall operators are looking for strategies to hang on to their costumers.
In 2018, over 5,000 retailers announced that they were closing theirs door as online retailers, like Amazon, have increasingly dominated the retail industry over the past decade.
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The stores that have closed in recent years, include: Toys-R-Us, Claire’s, Sears, Kmart, Payless Shoes and Gymboree.
A changing demographic and consumer trends points to the rising popularity of online shopping.
"Obviously younger audiences are shopping more online. That’s what they’re used to and they’ve been accustomed to since they started shopping.” said Melissa Ilardi, digital marketing strategist of Media Two Interactive, “We’re seeing still some of the older demographic in store, what they’re comfortable with.”
While some prefer online shopping, others argue that one-click buying doesn’t match up to in-store shopping.
"There’s still those folks who, while it’s very convenient to shop at home, there’s also still that area of apparel and other things where you want to see it and feel it and touch it,” said Brian Asbill, corporate marketing director of Crabtree Valley Mall.
Laverne Espy shared she still enjoys browsing the stores in-person more than online.
"I love what I call eye-buying," Espy said. "I walk, I look. If I like it, I get it. If I don’t, I keep right on going.”
In order to compete with the convenience online shopping provides, malls are using what Asbill calls, “multichannel integration”.
Consumers will search for products online through retail sites, make a purchase, and pick up in-store. Shoppers can order in-store and have the product delivered to their home, as well.
This way, both digital and traditional stores benefit from this collaboration — a situation Ilardi calls ‘win-win’.
“I think that we’re gonna see another shift in terms of consumer behavior. Online is only growing, we may see that shift in store as well.”
Crabtree Valley Mall already has ideas for the Sears that closed last fall.
Mall officials say the space could potentially house:
- A movie theater
- A hotel
- Office Space
- Residential units