The new book Retail Revolution: Will Your Brick-and-Mortar Store Survive? argues that traditional store-front retailing is at an inflection point, under tremendous pressure from ecommerce and the changing wants and needs of a new generation of shoppers—the millennials.
In the third and final part of our interview with authors Rajiv Lal and José B. Alvarez, they discuss what the future of storefront retailing looks like and how its transformation will also change the economy and society.
Sean Silverthorne: What is happening to the shopping mall? According to mall researcher Green Street Advisors, more than 20 enclosed malls have been shuttered over the last few years with another 60 on the endangered list.
[This article was provided with permission from Harvard Business School Working Knowledge.]
To a certain extent the observations of Jose Alvarez and Rajiv Lal are quiet pertinent in the current senario.But many factors will decide the curves orientation.For instance how a developed country like USA will behave may not be the same as how the growing economies of Asia like China,India will behave.Reason being the tastes of the people...If this factor ecommerce grasps and caters to, then perhaps, equations may change.For instance in rural India and for that matter in semi urban India people do like to move around and roll over and like to have a feel of all that their hands and pockets enable them to reach.Now how the \"products\" are finally delivered is the question.Ecommerce can take a person to the realm of the product with a mouse click but small retail outlets will still give \"an option\" for a populous country.When small malls are spoken about in context of small retail outlets then they will survive on the \"spectrum\" of products that they can harbour rather than\"only\" the \"brand value\" of the products...
on May 10, 2015