Even before the arrival of Amazon, online shopping is devastating Australian retail. In the past year, sales in physical stores grew only 3% while online shopping grew almost 10 per cent. Foot traffic in physical stores has fallen by almost 5 per cent this year alone.
Both retailers and shopping centre operators have to work together to create compelling reasons for customers to leave their homes and go shopping in physical stores. This has already resulted in a lot of experimentation, from VIP shopping nights to pop-up stores and events.
The redevelopment of Chadstone shopping centre included a new dine-in restaurant precinct, an up-market movie theatre and a Lego Discovery Centre. Photo: Supplied
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