dwermske wrote:
Twelve years ago I moved from the DFW metroplex where malls were everywhere to Austin. Wow what a surprise, Austin has only one fully enclosed air-conditioned mall. It appears that it might not survive Bidenomics. It's not just the malls that are suffering, small business are hurting just as much. Many of our stores have had to close as a direct result of inflation.
The chief cause of brick-and-mortar retail failures is the rise of online commerce. When you can order things you would normally shop for at the mall, and get them delivered at the same price, or for less money, there is no incentive to leave the house.
In the 1970s, big volume catalog mail order retailers, precursors of the Internet retailers, squeezed the local camera stores hard! As a broke teen, I bought my most expensive gear via mail order. I bought film, chemicals, and paper at the local shop, where I also figured out what to buy via mail order... It was "horrible behavior," according to some, but I would never have equipped myself at the local shop's prices, which were full list and never discounted...
Still, over-the-phone and mail order commerce wasn't enough to kill off the local stores... It just slowed them down.
Fast forward to today. There are no local camera stores near me. If I want it, I call to learn whether it's in stock, before I drive 75 miles. OR, I get on the Internet and click a few links. What do you think most people do? We shop the dot-coms. Even in a Prius, it costs $.44/mile to drive, and I'm not paying premium local store prices on top of that mileage expense.
Malls suffered and died off because of Amazon and other giant online retailers. The Internet, smartphones, tablets, and computers, combined with social media, have given online commerce an unbeatable platform.
The chains that have continued to thrive are those who figured out how to compete in the online space. If all you have is a physical storefront, then shame on you, Sears, and all the other Mall anchor stores who lost out. "One click buys it now" beats wandering around a mall store, hoping you'll find a knowledgeable employee who gives a hoot about what their employer sells.
As a college student, my son worked at a local Target store. He knows exactly why brick-and-mortar stores suck. It has nothing to do with politics and everything to do with retail management strategy.