Trends forecaster Gerald Celente sees rebirth of niche retail as malls continue their death rattle
On Oct. 5, world renowned trends forecaster Gerald Celente issued two new economic forecasts that are appearing upon the landscape in the wake of dying retail.
According to Celente, the current trend of dying malls and large franchises such as Sears, J.C. Pennys, and K-Mart will continue, with a shift taking place for niche retailers focused more on quality and quantity.Â Additionally, there will emerge a desire for unique smaller brick and mortar stores that offer a social benefit that online shopping cannot provide.
Brick-and-mortar businesses, emphasizing quality and value delivered with a human touch, will grow stronger in the months and years ahead as chains continue their downward spiralâ€¦
The dramatic decline of shopping malls, a trend we forecast in 1997 when we warned that mall culture would degenerate in coming decades, often is attributed to online shoppingâ€™s rise. But as the Trends Research Institute has been forecasting, shifting demographics, a stagnant economy and an overbuilt retail sector â€“ created decades ago for a thriving middle class that has dramatically shrunk â€“ also have fueled the trend.
From grocery stores, whose mainstay brands like Hormel Foods and Campbellâ€™s Soup have lost appeal with younger audiences, to clothing retailers like Macyâ€™s and JCPenney, whose sales continually decline, major chains have sacrificed new-product development.
Yes, online shopping will continue to grow, but not in all categories.
Brick-and-mortar businesses are here to stay. The boutique business model â€“ a personalized business that reflects the quality and uniqueness of the market it serves â€“ is the antidote to the slow death of giant retailers who fail to recognize emerging trends and fail to provide value that reflects consumer needs and interests. â€“Â King World News
Interestingly, retail may also morph into a bi-lateral environment where consumers use online platforms to purchase basic products and services such as groceries and clothing while at the same time using brick and mortar retail for specialized experiences they cannot get from Amazon or Alibaba.
Despite the social trends that have lessened personal contacts between individuals, there will always be that inherent need to experience life away from Smartphones, Tablets, and platforms like Facebook.Â And for businesses trying to survive as the world shifts the paradigm away from the trends created in the 1980s and 90s, finding that niche of quality, affordability, and experience will bring a measure of success as the retail landscape shifts here in the 21st century.
Kenneth Schortgen JrÂ isÂ a writer forÂ The Daily Economist,Â Secretsofthefed.com,Â Roguemoney.net, andÂ Viral Liberty, and hostsÂ the popularÂ youtube podcastÂ on Mondays, Wednesdays and Fridays.Â Ken can alsoÂ be heard Wednesday afternoons giving an weekly economic report on theÂ Angel Clark radio show.