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What will the retail landscape look like once millennials are the primary consumer base?
Posted on 1/27/18 at 9:43 am
Posted on 1/27/18 at 9:43 am
We've got malls closing nationwide, and recently Sam's Club announcing the closure of 63 stores. Costco is also feeling the pinch and they directly blame it on millennials.
What do you envision the retail landscape to look like in 15 years? What brick and mortar institutions will still be around?
What do you envision the retail landscape to look like in 15 years? What brick and mortar institutions will still be around?
24
Posted on 1/27/18 at 9:45 am to Houma Sapien
Mostly amazon ruling the world
Posted on 1/27/18 at 9:46 am to Houma Sapien
A bunch of gyms, churches, nail salons, massage parlors (rub and tugs) and quick service restaurants.
Posted on 1/27/18 at 9:48 am to Houma Sapien
It’s already taking place. Look at a lot of your newer, higher-end, open air centers. Stores are smaller, sometimes only offer size runs only so you can try items on, then order online. You can still touch, feel, try on...but stores will save money on space, inventory, and staff.
Posted on 1/27/18 at 9:49 am to The Easter Bunny
quote:
Mostly amazon ruling the world
Amazon will be broken up in a bunch of antitrust pieces by that point.
Posted on 1/27/18 at 9:49 am to Houma Sapien
I think we know the answer to this already:
Posted on 1/27/18 at 9:56 am to Houma Sapien
Posted on 1/27/18 at 10:02 am to Houma Sapien
Walmart will never go away!
Posted on 1/27/18 at 10:05 am to PortHudsonPlaya
quote:
Walmart will never go away!
You might be right, but I'm sure they said the same thing about Sear's 30 years ago
Posted on 1/27/18 at 10:13 am to Houma Sapien
I see there's going to be a lot of cheap commercial real estate going forward. Jim Cramer says you should still own big retailers like Macys because of their asset value in real estate alone, but there's going to be so much of it available that it may end up hurting them in the long run.
Posted on 1/27/18 at 10:52 am to Houma Sapien
quote:well, they weren't completely wrong
You might be right, but I'm sure they said the same thing about Sear's 30 years ago
Posted on 1/27/18 at 10:54 am to Houma Sapien
Can you blame us for staying home and shopping online? Every time you go to the mall there's a bunch of baby boomers loitering around and asking where you got your shoes
Posted on 1/27/18 at 10:56 am to el Gaucho
quote:
Every time you go to the mall there's a bunch of baby boomers loitering around and asking where you got your shoes
Even worse when you go to Bourbon Street.
This post was edited on 1/27/18 at 10:57 am
Posted on 1/27/18 at 11:00 am to Houma Sapien
Posted on 1/27/18 at 11:02 am to DisplacedBuckeye
quote:
DisplacedBuckeye
I can completely see this. Order your groceries ahead of time on your phone, show up at the store, they're bagged and ready to go.
Posted on 1/27/18 at 11:04 am to Houma Sapien
Much much better because we do not settle for shite and make companies compete for our business. Choice and competition are killing these places, not millennials.
This post was edited on 1/28/18 at 2:12 pm
Posted on 1/27/18 at 11:13 am to el Gaucho
quote:
Can you blame us for staying home and shopping online? Every time you go to the mall there's a bunch of baby boomers loitering around and asking where you got your shoes
Poor thing, actually have to interact with people out side your bubble.
Posted on 1/27/18 at 11:15 am to Houma Sapien
Posted on 1/27/18 at 11:15 am to Houma Sapien
Everything will have to go out of business.
As my mother told me last night - Millennials don't have any money and they only spend their parents' money.
As my mother told me last night - Millennials don't have any money and they only spend their parents' money.
Posted on 1/27/18 at 11:15 am to Houma Sapien
I don't think millennials will kill off brick and mortar retail like many predict. It'll end up eventually as a blend of e-tailing and traditional, but the transformation will kill off many laggers like Sears and Macy's and niche stores like Toys R Us.
Millennials are proponents of the subscription model, so it'll be interesting to see how retailers can leverage that somehow. Look at what Dollar Shave Club and Fabletics have done with stuff as simple as razors and workout gear.
I also think the chain restaurant industry is going to be disrupted significantly at some point. We've seen implications of it, but Chick fil A has hacked the industry to a degree by driving brand loyalty through incredible customer service. People won't keep putting up with terrible customer service and a mediocre product.
Millennials are proponents of the subscription model, so it'll be interesting to see how retailers can leverage that somehow. Look at what Dollar Shave Club and Fabletics have done with stuff as simple as razors and workout gear.
I also think the chain restaurant industry is going to be disrupted significantly at some point. We've seen implications of it, but Chick fil A has hacked the industry to a degree by driving brand loyalty through incredible customer service. People won't keep putting up with terrible customer service and a mediocre product.
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