Gromek Says Retail Works When Pricing Is Competitive

The video discusses the shift from brick-and-mortar stores to online shopping, highlighting the growth of e-commerce and its impact on traditional retail. While online shopping is increasing, physical stores remain relevant due to consumer preferences for in-person experiences. The future of retail involves a mix of thriving shopping centers, closures, and repurposing of others. Consumers often use physical stores to evaluate products but purchase online for better prices, emphasizing the importance of competitive pricing in retail strategies.

What is the current approximate percentage of retail sales conducted online?

• 10%

• 20%

• 50%

• 80%

How many shopping centers in the United States are expected to continue thriving?

• 300

• 500

• 700

• 100

What is the expected fate of the shopping centers that are at the bottom of the list?

• They will close over the next 5 to 10 years

• They will thrive and expand

• They will become the top shopping centers

• They will remain unchanged

What is the term used to describe the behavior of inspecting products in-store but purchasing them online?

• Impulse buying

• Showrooming

• Window shopping

• Bargain hunting

Why is price competitiveness crucial for physical retailers like Bloomingdale's or Macy's?

• To attract more foot traffic

• To compete with online prices

• To increase their product range

• To improve store ambiance