Shopping malls still hold sway among many shoppers but not as before except during back to school, summer time, christmas and 3 day sale events. Reports indicate that the Internet is making up for some of the lost store traffic. It is increasingly evident that the shift from shopping in stores to shopping online is permanent and still rising.
In the past year more and more people felt comfortable with Internet shopping. Special values and free shipping incentivized them to fulfill their need for basics and their family fashion apparel online. One wonders what will happen in the future as even more sales shift to online.
In the Philippines, there is still positive growth in the retail sector but these are being competed by Divisoria and Baclaran marketplace where people tend to look for great bargains and have their money felt like having more peso power. The positive year in year sales is not as significant as a few years back where most earns double digit growth, these days most retailers are striving to go beyond a positive 6-8% growth.
The recent surge in online shopping has even attracted international investors such as german-incubator Rocket Internet GMBH that set up across Europe, Asia and Africa online retailers such as Lazada, Zalora which in some way reduced the traditional mall retailers customer flow. Though most online shoppers require payment through credit cards, these innovative online retailers have come up with ways to target non-credit card holders by offering Cash on delivery payments or deposit payments for the items the buyers are getting from these new retail concepts.
Retailers may still sell the same quantity of many items and goods, but the sales will occur outside brick and mortar stores.
Great information. Thanks for providing us such a useful information. Keep up the good work and continue providing us more quality information from time to time. Traditional Vs Online Shopping
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