Skip to main content

Brick-And-Mortar Crumbling? Don't Believe It > Forbes > Leadership

A Millennial and older friend of mine, recall their experience of shopping with grandmother –Nanny they called her – some 10 and 40 years ago respectively, they would go into a store and “touch some ” before buying anything.

why Frank Whittle and the Saville row tailor have more in common with Warren Buffet

Though how they now ,prefer letting their fingers do the walking on touch screen or mouse.Cold rainy days enjoyed inside, nice and toasty warm, or outside in the garden / out and about on sunny days. Freeing up time, with the convenience to do what we want, in our own busy, time poor schedules, making a carrot seem like a larger carrot on a already, shorter selfie stick.

Perhaps that explains why all the expert predictions of retail’s demise is happening.

Online retail sales as a percentage of total retail sales have certainly grown over the last several years, increasing from 4.4% in the 3rd quarter of 2010 to 7.4% in the 3rd quarter of 2015, according to the Census Bureau In US.

In the UK too ,with growing online shopping buyer behavior ,eurostat data, KPMG online drift  / retail decline

The experts have looked at these stats, analysed them, and are predicting the trend will continue. One retail analyst for a major financial services firm was cited by CNBC recently as predicting that the number of retail store locations in theUnited States will decrease by a third over the next five to 10 years, potentially turning shopping malls into ghost towns.

soft retail sales, forecasts for 2016

The problems that luxury firms are battling are two fold. For one, they're facing macroeconomic pressures including a sinking stock market, stalled global growth and a stronger dollar, all of which discourage the high-end consumer from spending.

Secondly, they're trying to sell their wares to a group of shoppers who have become less focused on material goods, and are instead more interested in dining out or travel — a trend that could have long-term implications for the industry.

Due to these factors and an overall glut of retail space in the U.S., Graiser predicts luxury retailers will be next in line to close some stores, as they try to compete in a country that has more than two times the retail space per capita than the United Kingdom, France, Brazil and Germany combined.  

Recent research from the UK found London overcrowded with 2,881 estate agencies, more than the number of independent butchers .A high proportion of estate-agents in the capital ,coming from the high end of the market.

Vast sums of profit were , made from the property boom period 2014 -2015 , whether the same level is attained, remains in doubt.

Home owners, with luxury property are also using online estate agents.By selling througha  online estate agent, vendors avoid excessive fees, charged by the likes of Knightfrank, Savills, Foxtons, Spicer Haart,Hamptons, Winkworth.

UK Government encourages online real estate agents A better deal: boosting competition to bring down bills for families and firms

While the doyen of commercial real estate cushman and wakefield have said they retail shopping is alive, though evolving ,into shops and stores, that the consumer wants ,how e-commerce is impacting retail real estate .

But I would remind the crystal ball gasers that it is easy to predict long-term trends based on data over years of sales data. "In spite of the Portas Pilots, the High Street will continue to suffer: around 41% of town centres will lose 27,638 stores in the next five years.

Some retail gurus have been predicting the demise of brick-and-mortar stores, for over a decade now.

So let’s ask an uncomfortable question: If online shopping is the inexorable wave of the future, why some online retailers – including Amazon, Robert Redford’s Sundance brand, Rent the Runway and others – opening brick-and-mortar stores? 
digital disruption in property portals and within real estate agent industry 

Because even though sales are increasing,boutique on liners have become sophisticated , paradoxically online , using the same professional techniques, garnered by the likes of Amazon and ebay some16 10 years ago , though from my recollection, the likes of Alibaba, are ticking along quite nicely

The proliferation of hardware devices, tablets, mobile phones, coupled with apps. Are no longer. which might I add, the exclusivity of IOS, but working within a ecosystem of platforms, Android, Windows, Blackberry, Bada, palmOS, webOS; all give the consumer more choice.

Are they hedging their bets or do they know something they haven’t been sharing with us?

Remember: We’ve seen retail transformations before. Sears Roebuck & Company and Montgomery Ward achieved prominence as catalog retailers. Free-standing department stores came later. As department stores and malls took over, catalog sales were dismissed as a vestige of the past. As Harvard Business Reviewreported last year, catalog sales are now making a comeback. So much for predictions. so much ?

Because one eminent educational institute, is saying so, the whole world should be led down your autocratic, garden path / point of view / forbes article. 

For every ONLINE paper, I can produce ,a ten fold ONLINE counter , from just as many respected universities et al .
Trend lines typically ebb and flow over time. really? take a look above below my friend

Then came the launch of WINDOWS 95 ,GOOGLE , social media , finetech ... 

What we do know about today’s retail environment is that shoppers want to buy what they want when they want it – and use whatever method they prefer to make the purchase.

The importance of an omnichannel approach has been widely discussed and I agree it’s an essential development.

Yep continue reading definition below .

With a seamless shopping experience whether the customer is shopping online from a desktop or mobile device, by telephone or in a bricks and mortar store.

buying letting renting property and homes, will never be the same again 

But what fewer people are talking about and what may be the deciding factor in whether online or brick-and-mortar will dominate is which can offer a better experience for customers. And I’m not talking about a “lifestyle experience,” which is a term that appears to be all the rage in the branding world. gobble de gook ??

2016 year of Tech start Future is VERY BRIGHT from London to New York

Hello up there ,this way folks > > I have a life and You have a life its called lifestyle , living your life depends on how you style it steer is shape it sculpt it to your own requirements ,

Bill Gates Bill's playlist The eight tracks Bill Gates would most want on a desert island

For many, shopping is seen as a chore, necessary evil, process, what ever, you what to call it BRO . For others, it’s seen as fun — another friend of mine says, “It’s all about the hunt!”

so if it easy , you'll agree when everything in front of you .

But for both those who find it a chore and those who love it, the shopping “experience” can sometimes range from mildly frustrating to highly stressful. that's life deal with it 

Why UK Property Online Real Estate Agents really do have billon pound start up potential Says GOOGLE
I’m convinced that many, if not most, shoppers still want to see – and have an opportunity to touch – what they’re buying before they buy it.

that' s your generation ^ , mines below 

For me, what I want is good service, whether I’m at a store, shopping on the go from my smartphone, having something delivered to my house or buying it online and picking it up in the store.

I suspect many shopping decisions remain based, in good part, on such factors as sight and touch and, ultimately, service. If I’m right, consumers really haven’t changed their shopping habits that much from when my friend’s “bubbie” was browsing the aisles six decades ago.

The Answer my friend is blowing in the wind

Further Reading 

Brexit , investor, impacts on the property market overall and on aggregate consumption in the economy will be limited.