Shopping center owners can no longer ignore the growing negative effect the Internet is having on your mall revenues, traffic and profits. Just 10 years ago, the Internet reduced your mall sales by less than 1%. But now, off-premise Internet sales exceed 10% of your total mall sales. Within the next 5 years, they will exceed 25% ….sucking your mall sales and traffic dry and taking your revenues below a sustainable critical mass (see chart below), unless you take immediate and proactive action. (Note: click chart below to enlarge)
As you know, this catastrophic recession has forever changed consumer buying habits, causing them to shop online much more than ever before. Consumers have capitalized on the sheer convenience of the Internet, which cannot be understated nor can the cost savings. This Internet explosion is causing huge repercussions to the retail landscape. Virtually overnight, the car eliminated the 3,000 year old then-ubiquitous horse and buggy industry. The Internet is similarly annihilating the now-ubiquitous shopping center industry – but innovators and early adopters now have a clear and obvious defense.
Our Credentials: We’ve successfully implemented three other similar major industry-changing solutions and in every single case it was the “Innovators & Early Adopters” that sparked those industries’ revolutions. These 3 industries were: the Food Processing industry (our Innovator was: Kraft Foods); the Retail industry (our Innovator was: Sears); and, the Call Center industry (our Early Adopter was: Home Shopping Network). All were the Industry leader and all benefited enormously. I would love to discuss these with you.
In recognition of how our pioneering products improved lives and profits, we won many awards including a Smithsonian Award, President’s Award, Environmental Award, etc. But, the main reward has been improving the way the things work, for the benefit of all. In each case, our products & services became ubiquitous while also continuing to benefit the Innovators & Early Adopters and their industries. We now have several major shopping mall owners in various stages of implementation. We’re ready to work with you to do the same.
Gail Nichols
Vice Chair
Email: gnichols@thenowmall.com
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