I'm guessing that you think you already know what I'm going to say. Physical stores are dying and the future of shopping is online. As time moves forward, I too adhere to this message. I came across an article published on Bloomberg this weekend that said that Gen Z love to shop at the mall. Like everyone else, I was quite surprised as websites like: Amazon, Wayfair and Shopify are taking over the retailing landscape. The idea that the Gen Z population love to shop at the mall is interesting to me seeing as physical locations are diminishing and most business models are shifting towards an online presence.
This is why this article sparked my interest. In a survey conducted by International Council of Shopping Centers, 95 percent of Gen Z have visited a physical shopping centre in the three month period of this survey. The most interesting part of this article is not that they've been to a mall in the last three months, it's that they prefer physical locations. This concept is rather mind-boggling as the dependency to their smart phone and technology as a whole continues to rise. While this study was done with a rather small sample size and doesn't disclose the location of the survey, it begs the question, are Brick-and-Mortar stores finished? I personally believe the way of the future will still be online retailing. But maybe there is and always will be a place for physical locations.
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