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Is retail – brick & mortar- dead

Posted by Dave Mueller on 22nd Jun 2018

Is retail – brick & mortar- dead

I hear constant comments about retail as we know it being dead and that malls especially are a thing of the past. Is any of this true?

Retail is an ever changing and evolving entity that has been in that change mode since its infancy. There is always a retailer trying to reinvent the wheel and probably always will be. It is the nature of the industry. Sam Walton started an empire with a desire to make changes in areas he thought needed improvement. Amazon similarly saw a problem and a subsequent need to change as the solution.

Are malls doomed? Many are because of an unwillingness to change. I have walked into many malls that have the same stores in the same locations trying to sell the same stale products for decades. They refuse to innovate and meet changing demand. The malls that are willing to make changes will survive.

So, does brick and mortar retail still have a future. Yes, both internet and physical store locations will exist. What is taking place is a process of finding the balance between the two. There are shoppers and dollars chasing products in both menus. What will change is that the winners will meet the needs of shoppers in a better, smarter, and more efficient manner.

Brick and mortar will have to work harder and better to get shoppers attention with better planned locations and physical features. Internet sellers will have to be more graphically enhanced to give products a more real presence to their shoppers. The balance will mean a better served shopper and profits to the companies that do it well.

I am the owner of White Water Antiques. We specialize in sterling and silver flatware and accessories. I started business with physical locations and now concentrate on internet sales.

David Mueller

Whitewaterantiques.com