Traditional Retail Struggles To Convince Shoppers To Visit Physical Stores

Anyone who has visited a shopping mall recently will likely observe a notable decline in foot traffic compared to a few years ago. This is a result of online shopping, which offers consumers the same products they can buy in store with the added convenience of not having to actually go to the store.

Consumers are also spending more money on "Instagram-worthy" moments, travel and food experiences, according to Forbes' Barbara Thau.

"Malls are getting antsy and taking some bold steps to revive traffic," Thau wrote. "They're looking to expand in-store/in-mall businesses that are seemingly Internet proof."

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Struggling To Keep A Place

While no product or service is fully "Internet proof," retailers can offer shoppers who visit its stores real-time inventory data, personalized buying history and recommendations. Many retailers attempt to offer this exact service but come up short as legacy in-store systems are not equipped to meet such needs.

One company at the forefront of combining online shopping with an in-store experience is True Religion. At some stores, shoppers can make use of the staffs Apple Watches to browse merchandise that isn't available on the sales floor.

"The idea is [to] engage shoppers with concierge-like service, keep them longer in the store, and prevent a lost sale," Thau explained.

Experiences such as these may be the only thing that will convince shoppers to visit a store.

Some Relevant Names

• General Growth Properties Inc GGP
• Taubman Centers, Inc. TCO
• Tanger Factor Outlet Centers Inc. SKT
• Simon Property Group Inc SPG