Stretching from New York to Seoul, fashion is a quintessential part for many people. People are constantly seeking for the newest trends and fashion tips from all types of sources. However, recently, retail traffic has been on a significant decline causing huge retail companies to move towards a growing e-commerce market. Since 2010, mobile commerce and e-commerce has been on a rise from 2% to 20%. 

From personal experience, while working at Nordstrom, customers would visit several times before making a large purchase on an item. Oftentimes, after the first visit, they had made the decision to purchase the item or not, but they would like to see the item several more times to finalize their decision. However, with a market online that allows us to browse every item that a store has to offer, we are able to minimize our time spent browsing potential purchases.

E-commerce is currently a $220 billion dollar market that is growing rapidly due to consumers making the change to online shopping. I personally felt that the consumers felt that sales associates were oftentimes untruthful and pushy to make a sale making the experience unnatural. However, when the consumer is shopping online, their online support teams do not work on commission and answer questions truthfully and quickly to assist the consumer. There is a compound growth of 11% for the e-commerce market that grows annually which will ultimately result in Traffic Retail falling off within the next decade.

Shopping space per person, per country

A solution to retaining the retail traffic market would be to reduce the number of stores in a shopping centre. However, that is unrealistic as not many companies will voluntarily close their stores to focus on e-commerce as it can be quite expensive. In the near future, companies will have to result to this to remain relevant within the economy no matter what industry they are in.

A list of e-commerce companies

Ultimately, for companies to continue to thrive in the future, according to the trends, it appears that they will need to result into investing towards their e-commerce potential.

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