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. Shopping malls are dying – well, at least some of them are. Here’s how the shopping mall industry might be changing, how Sears is failing, and how you can capitalize on this shift
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The Future of Malls & The Downfall of Sears
0:11 – Chances are you haven’t gone to the mall as much as you used to
0:56 – Technology is changing the face of malls faster than we can count
1:24 – How Sears became so successful along with malls
2:06 – The downfall of Sears
3:14 – Over 8,000 store closure announcements in 2017 alone
3:55 – How to capitalize on the future of malls
4:06 – The internet is like the new real estate
4:51 – Invest in companies that are innovating for the future
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The Minority Mindset has nothing to do with the way you look or what kind of family you’re from. It’s a mindset.
Give the majority $200 and they will come back with a pair of shoes. Give the minority $200 they will come back with $2,000.
Think from the mindset of a consumer and be the provider, that’s the Minority Mindset. Don’t be the majority. #MIH #ThinkMinority #DigitalRevolution
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47 comments
Thakn you for watching! If you enjoyed this video, you should watch – Why Getting a Job is RISKIER Than Starting a Business: https://youtu.be/tR9S2l7aI1g
Mining for precious minerals on the moon and in space and space exploration. That is the future of business.
Only stores like Costco and drug store pharmacy like Walgreen, CVS and ride Aid will stay in business.
I like the re-purposing ideas for malls. That was my first thought on the subject. Who ever comes up with the best solutions for that is going to make a killing.
Next is Macys and Nordstrom.
Sears was mismanaged for decades. At one point they included Allstate Insurance Company, Dean Witter stock brokerage, Discover Credit cards started as Sears cards, a real estate sales company, a mortgage loan company, and others. All sold off for cash to 'save' the retail core that was losing money. I sold my Sears stock before management could further destroy the company. Sears started as a catalog company, then opened retail stores. Amazon is just the current version of a catalog company. And Amazon is now opening retail stores.
Am addicted to your shows. Amazing job !
I work at a mall….Trust me they are disappearing. However some companies seem to do well like H&M and victoria secret/pink seems to do well where I live.
Bro I love your videos but ever since I noticed that one of your eyebrows is uneven I cant stop thinking about it :-D!!! You must have a scar or something because I did the same thing to my face and have a little spot where the hair doesn't grow in too 😛
I've seen videos where malls we're actually becoming mixed use… Residential apartments where stores used to be should be a thing.
It doesn’t help that in Canada shit is so expensive and paying employees isn’t easy anymore
What I don't like are independent hobby stores that helped to build and support certain communities. Model train, stage magic, martial arts, and comic book stores are folding and the internet just does not fill in the gap that those stores helped to support.
Malls suck
Congested
My opinion is not the problem with the mall I’m not a guy that will do my shopping on the Internet.. I think his Walmart that is bringing on everybody else you want to Walmart either groceries look around look for something else and they have it everything under one roof can’t beat that
Sears is owned by a successful hedge fund owner who has never understood retail. Bad management has done Sears more harm than Amazon ever could.
Timely here in the U.K. we have mighty retail outlets downsizing John Lewis, Marks and Spencers even a Poundland stores a store that sells things for a £1.00
Won't miss them. They mostly have womens clothing and jewelry anyway
When I was in high school I really enjoyed going to the mall. After high school the mall was not as much of an appeal to me. Now one of my friends that is a millennial has turned me onto buying clothes on Amazon. I have bought other things on Amazon before, but now I see the value of looking online and seeing how other customers like the products that you are wanting to buy. The thing that helps me with the clothing on Amazon is that customers take their own pictures and share them online, that way you have a general idea of how the garment will fit. Shopping this way actually helps me avoid overspending. I normally do “window shopping” on Amazon and then when I get paid I come back and purchase the item. Most of the items that I window shop for end up getting deleted from my card anyway. If I go to a real store or at the mall I tend to overspend greatly.
I am disappointed that malls are becoming less and less popular, but like many of the other commenters mentioned, that’s the way of the world. New technologies beat out old technologies over and over again.
I like the idea of you stating that we need to secure a piece of real estate on the Internet. Makes a lot of sense. Good video!
they still have malls open?
Is this guy a Moooooslim?
I hate shopping online it take allot of patience and id rather go and pick things up in a store … Am i jist being lazy???
Its a real shame, The only thing left on the high street will be fucking coffee shops and restaurants and 2 euro stores. I see this already happening in my own city. Lots of highstreet clothing and shoe stores have come and gone.
More technology = more unnatural & less fun. Life sucks today.
I was at the mall earlier today, maybe cus it was thursday it was somewhat empty. JCpenny and Sears were still there at this place, as i walked around i quickly realised a lot mall employees work on comission. Im a salesman too, the way they spoke sounded similar to what i do
Also, don't forget that Wal-Mart and their business model damaged Sears as well. This began in the 80s, long before Amazon was around.
Yo, I'm diggin your shirt. What brand is it?
Keep innovating
As a child of the 80s/90s, I spent a lot of time in the mall. About 5 years ago, we agreed to let our daughter (5 years old) get her ears pierced. We told her we had to go to the mall to get it done. She had no idea what a mall is! Which is fine by us (as an adult, I am not much of a shopper and have not set foot in a mall outside of that incident in a decade+). It reminded us how much times have changed.
Darn…I like shopping in the malls barely found a store while purchasing a leather jacket
Malls will all be vacant in ten years. WalMart won't be too far behind. The actual storefronts will be half the size & stock smaller inventories & perishables. Grocery, home improvement, liquor & service stores will never disappear, but other retail establishments are dying fast.
Ironically after watching this video I drove by my local mall and a guy was holding a sign advertising that Sears was having a liquidation sale as they're closing that location.
Good info
Online saves me time, money and effort, and is infinitely more eco-friendly and convenient. I can shop online and watch a movie for far less money and time than in any store. Why on Earth would I go shopping?!??!
Never made a blog before but now I have a good reason to do so. Looking forward to doing it.
I don't know about the rest of you, but I like going to a store and browsing. Clothing looks a lot different in person compared to images online, and it's nice to try things on to see how it fits and feels ( something the internet or VR can never duplicate ) That being said, I understand the way things are going. My personal opinion, with rapid growth of online shopping and the ease of purchasing from your couch… Society has grown lazy and wants instantaneous results. Gone are the days of putting in the effort to walk around and do your shopping. From grocery stores to prescription drugs, you literally don't have to leave your house. To me that's sad, it's also the reason that face to face social interaction has diminished.
I definitely believe, and already see, a lot of shopping malls closing down due to the advancement of online shopping and expedited shipping, like prime from Amazon, but I still see the benefit(s) from being able to shop from/in a physical store. Whether it be the ability to try on clothes before you purchase or even physically see/feel the quality or texture of a product I think these are invaluable benefits over online shopping. I do a lot of online shopping, which is a huge benefit to me, but the more I shop online the more I have to inevitably deal with returns. Especially in regards to clothes, shoes and even watches recently. Most objects look different in person. Another evolution I due believe will happen and already see also is the increase in urban shopping/living communities, i.e. shopping centers or strip malls and restaurants connected to or directly adjacent to condominiums, lofts, apartments.
Actually Kmart owns sears to be correct.
yeah, yeah. but i cant get a chocolate chip cookie delivered to my home and it be in one piece.
I worked at Sears for two weeks back in 2014. I could tell right from then that the company wouldn't survive five years (in Canada they're already gone).
Half of their business model literally centred around preying on the elderly to get them to sign up for credit cards. I'm not sure I could think of a more unsustainable business model.
Very good points as always Jaspreet. Love your channel. I've noticed the same trends with movie theaters too because of streaming services.
Now there are some theatres in the suburbs where I live that will have a full experience. You go sit in plush chairs that recline ALLLLL the way back lol. They have a full menu. Burgers, hot dogs, seafood platters and a full drink menu. No lie it was quite an experience and I would pay again. Traditional malls will have to find a way to do this as well.
The owner of Sears stands to make more money if it goes bankrupt. Lampert is a dirty dog! Read up on Edward Lampert and Sears. There is much more to the Sears story.
Millennials killing shopping malls.
Online retail only represents 10% of retail sales. This is not enough to kill brick and mortar. The real story is that we were due for a recession in 2008, but the government tried to stop this natural process. The stock and bond markets are being manipulated because government tax receipts fell by almost 50% during the recession. If this happens again, the government may have difficulty paying the interest on the debt. Japan used this same strategy with their economy and it caused a zombie economy that has never really recovered after 30 years.
The economy is sick and needs a recession to recover. The economic recovery is fake and the US is in serious trouble. The amount we borrow right now will only cover the interest payments by 2024.
In NYC we don't have that many malls. So I've never gone to malls that much to begin with. Most of the department stores you see in malls are stand alone stores here.
At our nearest mall,they have much more than just Stores…there's a nice Multi-Food Court,a Movie Theater,an "escape room" play area,the County Sherriff's Department is in the same Lot,and probably a couple other things I've forgotten.Yes,the Sears and J.C.Penny's folded,and things slowed down a bit,but they're innovative enough to make with new changes,to keep people coming.
You could never find an associate to check out. Too cheap to hire people and pay them well to stay..
I treat my day trading as my business.