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Many people have stopped shopping in person because items are simply too expensive, and the same product tends to be cheaper online. But what does this mean for brick-and-mortar stores? Some store owners are forced to close because they are not generating enough revenue to stay open. For example, one of the major reasons Toys R Us shut down was because they simply couldn’t compete with retailers like Amazon, which offer a wider selection and more competitive prices. Occasionally even going to the retail store in person and comparing their prices with their own websites prices, the websites prices can be cheaper. This leads to people not buying it in person and buying it online instead, causing the in person store to produce less revenue and making the owner of that specific location to consider closing down.
Plenty are struggling with our economy now, which is why they want to save as much money as they can. However brands/companies are affected and forces them to try to reduce prices in order to stay in competition with other brands/companies. But eventually decreasing prices too much can lead businesses to not make enough revenue to stay open and them having to file for bankruptcy. At this rate, the future of shopping is primarily going to be online. But the shift to online shopping threatens the downfall of malls because they are made up of all kinds of brick and mortar stores, which impacts employment within those stores and job opportunities are also cut. This can be upsetting, but unfortunately it's the reality of where shopping is heading towards.
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