New survey finds that shoppers are eschewing online retailers and returning to bricks and mortar outlets in their droves.
San Francisco, CA (PRBuzz.com) June 14, 2013 -- Shopping malls have been a major part of life for the last sixty to seventy years. These large collections of stores make it easy for shoppers to visit multiple outlets in a single trip, while staying out of the way of unpleasant weather. However, in the last decade many retail companies have found that Internet shopping has taken its toll on malls.
One shopping mall related survey that has been getting a lot of attention recently has found that mall attendance is on the rise. The survey, sponsored by Glimcher Realty Trust, a mall development company, has found that 57% of respondents reported visiting their local mall more often than last year. Malls and their tenants, who have had a shaky few years since the online shopping boom, will greet this news extremely favorably.
The increase in mall traffic isn't just good news for those in the retail business. It's a good sign of a recovering economy. Consumers are prepared to spend disposable income rather than save it, which is a sign of confidence in the economy. The sales will generate sales tax, and of course money that is spent in a mall as opposed to online will stay in the country rather than going overseas.
In the past shoppers have cited convenience as a reason to shop online, but the respondents to the survey don't seem to have any problem travelling to the nearest mall. 40% reported happily driving over 20 minutes in order to go shopping.
Steve Reynolds said: "Malls aren't the only game in town anymore. Consumers also have the option of purchasing products online, and malls have to learn to deal with that reality. The results of this survey show that they are adapting fairly well to this new retail environment. A mall can offer experiences that online shopping can't, with services like a personal shopper. NYC area malls have been quick to invest in these types of experiences, and malls all over the country are catching up. Malls have always been recreational as well as just a place to shop. Now they need to be even more recreational to compete."
About the author
Steve Reynolds is a retail analyst based in the US. He is well known in retail circles for his insightful analysis of shopping trends, both online and offline.
Contact
Joe Bragg
joe@brandoutreach.com
(415) 632 1664
read full article