There once was a time – not that long ago – when malls were regularly jammed packed with people. Many of them would have lines formed in front of stores, made up of people who got there first thing in the morning to get their hands on the hottest new items. Today, there are still many shoppers who enjoy the traditional shopping experience. But it’s quite noticeable that mall traffic is on the decline.
Earlier this month, Francine Kopun discussed this modern day trend in The Toronto Star. Having spoken to a variety of business owners for her article, she concluded that local malls are finding it hard to keep their spaces occupied. Chains such as Zellers and Target have completely moved out of their spaces, closing down business in Canada for good. Others such as Sears and Staples have significantly reduced the number of stores they’ve kept open.
What is causing the decline of the traditional mall?
Kopun notes that there are a number of factors, but arguably the most impactful has been the rise of online shopping. She points out that because a continuously-growing number of Canadians has taken to the internet in order to make purchases, numerous physical store locations throughout the country have had no choice but to close their doors.
“According to an estimate by Colliers International, online sales of $23 billion in 2014 replaced 76.7 million square feet of bricks-and-mortar stores,” she reveals, “That\’s roughly equivalent to the shopping centre inventories of Vancouver, Halifax, Ottawa and Victoria combined, according to the report.”
How is online shopping changing the way Canadians shop?
Online shopping not only provides consumers with a huge convenience – the ability to make purchases from the comforts of their homes that get delivered right to their front doors! – it also allows shoppers to easily browse and compare prices.
Doug Stephens is the author of Reengineering Retail: The Future of Selling in a Post-Digital World. He was interviewed for Kopun’s article and pointed out that online shopping is changing what people think shopping should be. “Thirty years ago the shopping centre was really the apex of convenience,” he is quoted as saying, “Pre-Internet, where else could you go for shopping? That has been usurped by the Internet. The biggest big box of them all is the Internet, specifically Amazon.”
How should Canadian retailers respond to the growing popularity of online shopping?
At Canadian POS Corporation, we think the answer is pretty obvious. Giving consumers the opportunity to make purchases directly from your company website is practically a must! As mentioned, Canadian shoppers practically expect that they’ll be able to do so. If you’re company doesn’t have an e-commerce solution, it’s guaranteed to lose out on a high number of sales.
We’re very proud of the e-commerce solution that we provide, here at Canadian POS Corporation. It offers Canadian retailers everything they need to securely accept credit cards online. If you’d like to easily and securely accept and process all credit cards – Visa, MasterCard, Discover Network and American Express – from your website, contact us today!
Simply give us a call at 1-877-748-2884 or email us at info@localhost.