https://blogs.ubc.ca/jacquelineyan/2014/09/26/strategic-shopping/
Jacqueline Yan’s blog post was about the effect of technology on the retail market, specifically focusing on its negative effect on malls. In her post Jacqueline talked about how online shopping and banking effects customer circulation in malls since most people find it more convenient to do all their tasks online.
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In her post, Jacqueline says that malls need to re-think their business plans in order to maintain flow of customers and I completely agree. Although I personally prefer to do my shopping in person, I have many friends and relatives who use the Internet and mobile apps in order to fulfill their consumer needs. If companies and stores fail to appeal to the rapidly changing consumer market, they could ultimately lose revenue because consumers will see no need to go to stores when they can just do it instantly anywhere. Along with what Jacqueline said, I believe that it is also important for these companies to create a pull factor that will attract customers to come into stores to get items instead of doing everything online.
If these companies which to remain a competitor in the industry they must be able to constantly reconfigure their business strategies to in order to contribute to customer experience and attract business as well. These stores should create unique experiences that will only be available to those who come into the store. An example of this could be clothing customization and tailoring for a clothing store. This would persuade customers to come in store in order to fulfill their needs.