What was sold in stores first
With cars available to the masses, more people were leaving cities and commuting from the suburbs. The mall was envisioned as a cultural and social center where people could come together and not only do their shopping but also make an activity of it. With ecommerce sales growing, the appeal of malls has gradually declined, hitting a year low in sales in That said, some digitally native brands are still exploring in-person shopping at new mall-type environments.
One example is Neighborhood Goods outside of Dallas, Texas, which features a rotating series of pop-up shops from different merchants. What can we learn from this? While the traditional malls of old are no longer the exciting experience they once were, shoppers still do seek out experiences around shopping both online and offline.
The very first Walmart in Rogers, Arkansas. While people loved malls for the social aspect and enjoyment of window shopping and moving from store to store, there was also a renewed interest in a return to the one-stop-shop. However, unlike the mom and pop general stores of old, these large stores served bigger populations and provided items cheaply at a much bigger scale.
In the first Walmart opened its doors in Rogers, Arkansas. Target and Kmart also opened their first stores that same year. The efficiency and overall size of these indoor giants made them attractive to consumers looking for convenience and friction-free, no frills service. At these big box stores, customers could find the consumer goods they needed, and at much lower prices.
This was made possible by changes in the laws after World War II that paved the way for discount retailing. Big box stores, and specifically Walmart, are still dominating in the present day. Arguably one of the biggest flashpoints in retail history is the dawn of widespread internet shopping. Amazon was established in as a simple online bookseller.
Clearly, over the past three decades people have jumped onto the ecommerce bandwagon. There are a number of reasons for this. Ecommerce provides convenience and efficiency to the shopping experience and enables shoppers to research, examine reviews, compare prices, and make purchases at all hours of the day. The growth of ecommerce mirrored the growth of the internet. As more and more people had access to the digital world, they became more interested in shopping there.
Initially, some people were skeptical of providing personal data and payment information online, but the development of SSL security protocol in the s helped to assuage those fears.
Facebook, the most successful social media platform ever, has over 60 million active business pages on it. Twitter provides a way for businesses to talk directly to customers, and with Instagram, they can showcase their products in authentic lifestyle situations. Social media opportunities have been both an opportunity for retail brands to capitalize on and a new challenge for them to conquer. In , Facebook rolled out sponsored stories as a form of early advertising. Marketers could capitalize on the huge amount of data people provide Facebook to target very specific customers.
Today, Facebook and Instagram are also channels where brands can sell their products directly. This brings us to retail today. Retail sales are growing slowly as a whole. The growth of sales in physical stores in was merely 3. Customers are hungry for online shopping experiences, but not all ecommerce is created equal. Brands are developing strong multi-channel strategies. As the above walk through retail history illustrates, many of the changes in retail and ecommerce have both influenced changes in human shopping behavior and subsequently been influenced by these same changes.
These statistics paint a picture of modern retail but can also help modern businesses predict the future of retail. Those are some big numbers. Retail spending tells us a lot about how consumers are feeling in the economy. Understandably, during recessions, consumer spending goes down and when people are more confident, those numbers go up. Much as people turned to the general store as they pioneered the west, and flooded suburban malls as fast as their new cars could take them, technology fuels major changes in retail.
The proliferation of mobile devices is no exception. People are increasingly using mobile devices not only purchase items, but research and compare prices. Physical stores have been a staple of American retail for hundreds of years so, even though ecommerce is growing in influence, it is still not replacing brick and mortar just yet. Successful ecommerce ventures are finding success in having both an online and physical presence that work together seamlessly.
For example, customers could exercise the ability to research online and buy the product in-store or even buy online and pick up in-store. Overall, this offers opportunities to businesses who want to expand online, improve their online experience, or better sync their online and offline channels. This statistic really gets at the heart of how changing customer behavior and expectations go hand in hand.
Previously, shoppers were excited about department stores that could provide lifestyle advice and personalized shopping experiences. Then they loved malls and came to expect the convenience of all the stores they wanted being in the same location.
Finally, the ascension of big box stores gave them the expectation of a one-stop-shop guaranteed to provide steep retail discounts. Now, they expect all of these things and the ability to have them while sitting in bed on their phones at 3 a. Many of the businesses doing well in the current retail landscape are those that are capitalizing on new technologies or providing a clear customer advantage or experience. Knowing that ecommerce is a growing market, it would be impossible for Amazon — the creator of the most successful ecommerce enterprise in the country — to not be on this list.
Each month, over million people globally visit Amazon. And in , their U. People flock to Amazon because they can often find lower prices than in stores. Additionally, the free two-day shipping with Amazon Prime has created a whole new standard for shipping speed expectations. Kroger is the leading supermarket operator in the U. Other technological advances include a complex mobile app and digitally-enabled shelves that communicate with shoppers through display screens.
Walmart is continually investing in new technologies, including store-cleaning robots, interactive displays, and artificial intelligence to keep stock levels consistent. Their online Walmart marketplace has also been a huge hit for the ecommerce and online shopping community. Costco helped to revolutionize the warehouse membership concept. Many mall staples like Abercrombie and Fitch and Footlocker closed dozens of stores in The following businesses are failing to thrive in the current age of retail.
This was the third largest bankruptcy in U. The failure of the toy store giant is often attributed to a failure to keep up with consumer behavior. Their stores were stocked with inventory, poorly merchandised, and offered limited customer service. Customers who could easily find inexpensive products online, compare reviews, and price match took their business elsewhere. Sears was one of the first department stores that revolutionized the way we shop.
The Sears Roebuck mail-order catalogue was once the go-to place for Depression Era Americans to buy everything from watches to homes. Flash forward to and they are being outpaced and underpriced by online retailers to the point that they filed for bankruptcy. Their more than stores will remain open, but they continue to face challenges. This once-popular underwear brand has seen its numbers continue to fall in recent years. In May , one month after the outbreak of the Spanish-American War, a Spanish fleet docked in the July 1 will later become known as Canada Day.
During the Secretary of State Madeleine Albright. A few thousand Hong Kongers protested the The initial rating categories were G appropriate for all ages , M for mature audiences, but all ages admitted , R persons A female employee at a Colorado resort goes to police to file sexual misconduct charges against basketball star Kobe Bryant on July 1, A few days later, an arrest warrant was issued for Bryant, and the ensuing case generated a media frenzy.
On the night of June 30, , Sign up now to learn about This Day in History straight from your inbox. One of the largest military conflicts in North American history begins on July 1, , when Union and Confederate forces collide at Gettysburg, Pennsylvania. The epic battle lasted three days and resulted in a retreat to Virginia by Robert E. Ford began its development of the Thunderbird in the years following World War II, during which American servicemen had the opportunity to observe sleek The First Battle of El Alamein begins.
In June, the British had succeeded in driving Rommel into a defensive position in Libya. But Rommel repelled repeated air and Live TV. This Day In History.
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