https://lnkd.in/g586-QVb The narrative that physical #retail was on the decline due to e-commerce, popular before the pandemic in 2019, has shifted as consumers look ahead to 2025. According to Ethan Chernofsky from Placer.ai, physical retail has bounced back because many consumers value the social aspect and the in-store experience, such as product discovery, the ability to touch and try items, and higher conversion rates. Malls, too, are evolving and thriving, moving away from traditional retail to offer more experiences and dining options, with growing demand from digitally native brands seeking physical locations. Consumers now expect a complete experience when visiting malls, which includes shopping, dining, and entertainment.
Additionally, Chernofsky discussed the changing nature of shopping seasons, noting that Black Friday's significance is waning. Instead, there are multiple shopping "seasons," such as Small Business Saturday and Cyber Monday, and shoppers participate for different reasons. Retailers need to understand these shifts in consumer behavior to tailor their strategies, particularly when targeting specific shopping periods. #radio #radioadvertising #local #localbusinesses
Vice President, Client Service at MarketView Research
8moThat’s wonderful news, congratulations!!!