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Screen Shot 2014-12-09 at 16.24.16

E-commerce is booming and over 50% of sales is from mobile

Screen Shot 2014-12-09 at 16.24.16

Have you visited a shopping center in the recent times, and not just because you need to purchase some essential items or worked there but because you just wanted to go there? Have you bought some online in the recent times? Is it possible that you currently do more of your shopping online than in shopping centers?

The purchasing behavior of consumers across that globe has witnessed tremendous transformations in the recent time, which is consistent with the society’s value system. As such, there is an increased use of certain phrases and words such as “more” and “faster”.

With this in mind, most technological inventions and innovations continue to provide an avenue for faster consumption levels of products and services, as well as fast sharing of information. As a result of this, as people seek to attain personal happiness, their preferences are inclined towards choosing variety over deepness. In this regards, click & collect, QR codes, geofencing, pop-up online shops, magic mirrors, etc., benefit immensely this search for happiness because of their capability to allow it to develop.

These trends cannot be ignored. Arguably, due to the declining sales volume and reducing revenue in brick and mortar shops, most retailers have realized that there is a significant transformation in consumers with regard to how their purchase their products and services. One of the questions that emerge is whether and how it is possible to address these trends. How can owners and managers of shopping centers respond to these changing trends?

Speaking from this perspective, the shopping center industry is faced with the following dilemma: Focus on adapting their businesses to the new consumer trends – or continue with their current business models and approaches and as such, deal with damage control. And if they are to adapt their businesses to the new trends, then how?

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