The future of physical shopping
With the growing increase of technology, such as AI, chat assistants, etc. we can expect to see a drop in physical shopping and a rise in online shopping. Even social media ecommerce is starting to have an increase in sales, such as TikTok Shop and Instagram Shopping. These platforms are especially popular with the younger generations like Gen Z, because of the amount of time this generation is using technology, and the way these platforms offer easy access and discounted products. These younger generations also pull inspiration from their favorite influencers on these platforms using their provided quick links.
We are also seeing more and more malls shut down. For example, two malls near me have shut down due to not enough foot traffic. In my hometown, there are multiple ghost malls where they are on the brink of being abandoned. With technology being right at our fingers, everyone is so quick to shop online rather than take the time to drive or travel to the mall of their choice.
I’d say this is a mix of a threat and an opportunity for the fashion industry right now. It is a threat because declining physical foot traffic can impact sales drastically but it is also an opportunity to create more of an experience for shoppers and make people want to come in and shop. I do not believe that all physical stores will disappear, but I do believe that with the changing times and continuing advance of technology there will be major changes with physical shopping. I don’t see this happening in major cities like New York or Los Angeles, where shopping is like an attraction.
By creating a unique shopping experience, stores can attract more physical customers. A few ways stores can do this is by having pop-ups/in-store events, interactive displays, and by storytelling and reflecting the brand’s identity within the atmosphere. Something I’ve noticed within the past year is that the number one way to grab a customer’s attention is from storytelling. In today’s world of so much questioning and chaos, people want to know the truth and the real story of why they are buying from a brand.
Pulling from my thought post about nostalgia, emotions drive customer engagement and brand loyalty. Storytelling is all about emotions and building connection. Within fashion, it is the absolute best way to connect with the customer due to brands competing with so many other brands. As a brand, you have to stand out to the customer and customers are the cornerstone of all sales. In conclusion, we could see a shift within the industry and physical shopping, but we could also see some positive shifts for brands evolving their physical shopping experience.
