The modern retail industry is rapidly changing, and shopping malls, or AVMs, are no exception. In recent years, there has been an increase in the number of AVMs in many countries. However, with the rise of online shopping, the question arises whether AVMs can survive in the long run. In this article, we'll explore the potential for AVMs to disappear.
Online Shopping's Impact
The rise of online shopping has had a major impact on the retail industry. Online retailers have been able to offer a wider range of products at lower prices than traditional brick-and-mortar stores. This has led to a decrease in foot traffic to malls, resulting in a decrease in sales for AVMs.
Changing Consumer Habits
The rise of online shopping has also changed consumer habits. Consumers are now more likely to shop online than in physical stores. This has resulted in a decrease in the number of people visiting AVMs.
Rising Operating Costs
The cost of operating an AVM is high. These costs include rent, utilities, maintenance, and staffing. With declining sales, many AVMs are struggling to keep up with their operating costs.
Conclusion
The rise of online shopping has had a major impact on the retail industry, resulting in a decrease in foot traffic to AVMs. This has led to a decrease in sales for AVMs and an increase in operating costs. While it is difficult to predict the future of AVMs, it is clear that they are facing an uncertain future.