Malls were the place to hang out
Not long back malls were the place where everyone will spend their time shopping. People will spend their weekend in the malls browsing the stores, shopping and eating in the food courts.
Malls are closing
Now, over several years, the malls have started closing. A third of shopping malls are projected to close. There is so much retail space available and there is no one to take.
Impact of Anchor Stores leaving malls
The major factor for the small stores in the mall going belly up is attributed to the anchor stores like Macy’s, JC Penney, and Sears, often known as anchor stores leaving malls. Anchor stores bring traffic. Without anchor stores, malls are bound to lose traffic which forces other smaller stores to go out of business.
eCommerce has changed people buying habits
The biggest factor to blame is the growth in online shopping. With only 8% to 10% of the total sales, online sales have already started taking its toll on the retail stores and malls. Even while buying at the store, people still visit online stores to check prices and read reviews.
People trust Reviews
You can visit online stores, browse the items and read reviews from both satisfied and unhappy customers. People trust reviews from people like them more than the talk of the store salesperson.
Lower cost to Retailer, lower price to Consumer
With the online store bringing substantial saving to the retailers, they are happy to pass on some of those saving to the consumer.
Imagine the cost of maintaining multiple locations all over the country to reach out the population, you now need one central virtual store which can be accessed by anyone not only from the country but from all over the world.
There is no cost of rent, a big team of workers, cost of moving goods to various locations and the carrying cost of the inventory. In terms of dollars, the saving is phenomenal.
Are you ready to meet the challenge?
Online eCommerce and Mobile eCommerce is expected to stay and grow. There is no status quo in the business. Business is like riding a bike, either you keep on moving or fall.
With x2x eCommerce Selling Online is as easy as 1-2-3
1. Update Web Store Related Information from Dynamics GP.
2. Start Selling on your web store
3. Download orders in Dynamics GP, ship and invoice
Go Live in weeks not months
Visit www.x2x-ecommerce.com, or call 877 927 2927 to get started.