Take My Money, Then I’ll Run.

Personal Finance Blog
by: SavingsMix.com Contributor

Home. Travel. Shopping.

When you walk inside a mall, there’s a sense of familiarity with the environment.

You will see food and clothing stores all around. And of course, you will find some specialty services like salons, opticians and mobile kiosks at almost every corner.

The ones that we could also see are the empty and closed stores. Those that have not survived the challenge in online shopping (that has encroached on in the retail experience nowadays).

It is harder for me now to find a great bargain when I walk into a store.

When I see something good, I try to look it up online first before I decide to buy or walk away.

Most of the time it’s the latter.

I usually shop online. Only because when I know what I need and sometimes want, I can do my research. I can compare the prices and read some reviews. And then I'd buy.

It takes more effort in terms of time before you buy. But isn’t that the purpose of getting what you want, at your convenience?

It takes more effort in terms of time before you buy. But isn’t that the purpose of getting what you want, at your convenience?

There were a lot of times that I see the flyer ads and know that it’s a really good deal.

But when you go into the store, you will find that the items are already out of stock. If not, hiding somewhere inconspicuous, it’s like you’re digging for gold?!
And it's a total time waster.

It is harder for me now to find a great bargain when I walk into a store.

When I see something good, I try to look it up online first before I decide to buy or walk away.

Most of the time it’s the latter.

Which brings us to the big elephant in the room, which is Amazon.

The big online retail giant is crushing the space. And the rest of the big guys need to attack now or die slowly and painfully.

Some retails stores (like Sears and Toys-R-Us) might have conceded.

And at least now, Walmart is fighting back.

Lower prices would make customers happy.

The blood bath is on, and the winner in this situation, in my opinion is the consumer.

Why? Because when these multinational corporations fight, it usually is a race to the bottom.

Lower prices would make customers happy.

And when the big guys fight, the ground shakes and the rest sometimes become debris.

The little guys unfortunately, fall hard. Smaller retail stores hardly can survive.

But there’s a silver lining.

If you can’t beat them, join them. And just like Amazon and BestBuy now, they have sellers; or affiliates; or fulfillment services that prove that they can’t sell everything.

You just have to find a niche. Adapt to the new reality that digital marketing is the new norm.

Brick and mortar stores will not disappear. People will still need to walk in to a store to pick-up groceries and other stuff they buy online.

But now the convenience of knowing it will be there (when you go to the store or get delivered to your home) is the most important thing on my list.

It’s just like saying to the retailer 'now, take my money, and then I’ll run'.

Practical
Lifestyle