Will the internet kill retail shopping?
December 19, 2017
By Jerry Bellune
Millions of us may shop for Christmas online.
But we still like to see, feel, smell and/or taste what we’re buying.
Sorry, Jeff Bezos, but we can’t do that at Amazon and other online sites.
That’s why Kemper Freeman thinks bricks-and-mortar retailing has a bright future.
Freeman, 76, is third generation owner of a Washington state shopping mall.
His mall has not just a food court but restaurants, hotels, department stores and boutique shops. And he’s betting on a multi-million dollar expansion.
Why? Because his shopping traffic is up 21% this year. His Bellevue Square multi-level mall puts on a Christmas extravaganza with snow, bands and a parade every evening during the Christmas season.
He attracts shoppers from across the lake in Seattle.
The Tesla showroom in his mall sold almost $16 million in cars in 12 hours. Customers had to wait five hours.
He cites government figures showing we spent $3.4 trillion eating out and retail shopping last year.
Only 10% of that – less than $400 billion – was online.
So why the reports of the demise of malls and stores?
Because, he says, we have overbuilt.
The U.S. has 50% more retail space per person than Canada.
Canada has 50% more than Germany.
He sees a downturn in retail space coming.
Weak retailers and shopping centers will be killed.
What’s the solution for survival?
Give shoppers “emotional fulfillment” they can’t get online.
Make stores appealing to shoppers with convenient, free parking, highly trained sales people who are experts in advising shoppers which products and services will meet their wants and needs and merchandise at competitive prices.
How does your business or store measure up against that vision?
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