When I walk through many of the city malls here, it is common to see white boarded walls in what used to be vibrant retail shops. There seems more and more white walled up spaces than there are active retail shops these days, and it is worrying. It reminds me of many years ago when I was in Melbourne, and there are streets of vacant shops, and plenty of “for lease” signs everywhere. We are now facing that here.
If you are a CXO, the most important things that occupy must be two things – profitability and sustainability. You can be profitable today, but can you sustain the company for the infinity? Profitability and sustainability are therefore two sides of the same coin. You will have a dud coin if you only have one embossed side.
Times are bad. And in bad times, marketers do two things, spend more, or spend less. The wise spend more in bad times. Why?
Online shopping is increasingly replacing browsing and shopping at malls and stores. The convenience of browsing a wide variety of goods, configuring options for customized purchases, clicking the “pay” button, and then seeing the products arrive in a matter of days at your door, can be a mesmerizing experience for many.