A New Retail Concept Designed to Combat the Online Shopping Trend
Sales momentum is perceptibly slowing in most retail stores. This was noticeably true in 2013 when total retail sales increased by only 2.2 percent and GAFO (General Merchandise, Apparel, Furniture, and Other) sales decreased by 0.6 percent. These tepid numbers reflect consumer apathy and general economic concerns. Shopping malls no longer have surging crowds except on special event days like Black Friday. Reports indicate that the internet is making up for some of the lost store traffic. It's increasingly evident that the shift from shopping in-store to shopping online is permanent and still rising.