E-commerce has forever altered how retailers and brands identify, sell to, deliver to, engage and retain consumers. It is the great destroyer of traditional bricks and mortar retail, wholesale and operational norms in the consumer product world. But now, e-commerce may be poised to be its savior.
Have no doubt, malls, department stores and retailers who sell offline need saving. The bankruptcies and mall and store closings in the retail world of the last few years are proof enough of this. Brands are experiencing further disruption in terms of brand dilution, loss of integrity, lack of channel control and millennials questioning the need for and value of a brand.
This U.S. trend is now accelerating in China, where e-commerce is a much bigger part of the consumer culture and total spend than it is in the U.S. A recent report in Tech in Asia details why up to 1/3 of shopping malls in China as well as thousands of other retailers will close their doors, in large part due to online shopping.
Read the full article here.