Yes! It’s a fact that’s difficult to stomach, but from the look of things, thousands of in-sore/brick-and-mortar retailers may bid the market goodbye this year. E-commerce is capturing the attention of most merchants as who are now enjoying secure payments with services like bns payment review. And failure to change with times will only leave you lagging behind.
Signs of the now imminent storm hit the retail market only two days into 2018 when a consumer report foretold the shutdown of thousands of stores. In fact, many shoppers have disclosed their willingness to support brick-and-mortar stores but are planning to drop the old method because currently, it’s much easier to sell (and buy) online than in-store.
For example, Sara Toney who’s been running one such store at Walnut Creek’s Plaza is shifting to e-commerce for the same reason. She acknowledges that e-commerce is more convenient as it will allow her time to care for her child while also operating her business.
Large chain stores, famous as “anchor stores” may also suffer. They are known for attracting most of the customers and in doing so, smaller business benefit from their foot traffic. According to CoStar, a whole 310 of all1,300 malls risk losing their bottom line.
Initially, anchor stores were considered the icing on the cake. But market analysts have speculated that most mall operators will now shift focus to restaurants, movie theaters, and bowling alleys. They need to give customers more reasons to walk into their malls (and not their counterpart’s) than merely to buy new pants.
For instance, The Sun Valley Mall located in Concord launched Round 1— a huge video arcade— to attract families. They offer video games, bowling, and karaoke to keep the mall lively.
Final Remarks
While every merchant would like to pace the shift to e-commerce, the big question is; who will offer brick-and-store services for shoppers who need them? On the other hand, doing business online is proving to be easier, and much profitable. So the verdict lies with your judgment, resources, and preferences. But there’s also the option of selling both online and in-store.
Author bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who enjoys to write, produce music, and travel. Bestpaymentproviders is the UK’s best bns payment review company, serving both traditional and high-risk merchants.