Gordon Brothers published two articles about the digital transformation and shifting consumer behavior within the retail industry. As a result of the ongoing COVID-19 pandemic, customer journeys are now more digitally focused, and more shoppers are looking for easy online or mobile purchasing.
The first article, which is titled “Shifting Consumer Behavior Forces Evolution of the Mall,” analyzed how malls have evolved to meet changes in consumer behavior. Author Tim Shilling, managing director of retail for Gordon Brothers, examined how retailers are accelerating their digital strategies to keep up with the boom in e-commerce and the changing nature of consumer demand.
“It seems another phase of the mall’s evolution is upon us,” Shilling said. “Malls are not going to vanish entirely anytime soon, but the future of the mall could look different for both owners and occupants.”
The second article, which is titled “When It Comes to Retail, Convenience Is the Name of the Game,” took a closer look at the accelerated digital transformation and how the ongoing pandemic has made technology more important than ever before.
Authors Rick Edwards, president of Retail for Gordon Brothers, and Liz Sarhaddi-Blue, managing director of retail for Gordon Brothers, provided an overview of how retailers have pivoted to offer conveniences like same-day delivery, curbside pick-up, buy online pick-up in store and easy returns. They also reviewed how the pandemic has accelerated payment digitization and increased the use of frictionless payments.
“Like many in the retail industry, Gordon Brothers believes these pandemic-accelerated shifts in consumer behavior, increased demand for convenience and surge in digital payment tools will remain after the effects of the pandemic subside,” Edwards said.
