Is retail dying? | CNBC Explains
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- čas přidán 28. 11. 2018
- Several iconic retailers like Sears and Toys R Us have gone bankrupt recently, but online giants like Amazon and Alibaba record historic highs in sales every year. What's going on with the retail industry? CNBC's Xin En Lee explains.
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Only bad retail is dying, companies like amazon only exposed companies that weren't willing to innovate. This is good for consumers
Amazon is highly overrated. I haven't bought anything from them in over 6 years. More expensive too. It's moderately rare to find better deals from Amazon compared to other sites.
Boba Squid your right I used to sell on Amazon, I buy from the source now much cheaper
The good thing about online shopping is I don't have to deal with high-pressure salesman when I shop. If a lot of these retail stores loose the salesman and let people shop they can make it a much better experience.
The realest answer I've heard about this issue. You're absolutely right . That's why companies like Best buy are still thriving
Theyre choking the prosperity out of us. If they dominate too much well end up at their mercy aka monopoly. Thats never good for the free market. But theres monopolies everywhere.
Retails are not dying, people are just going broke.
exactly, consumers are now more conscientious about their spending after being bitten by the recession bug less than 10 years ago.
people go in retail to check products so that they can buy it online
Yes, cos the merchandise hasn't to go to stores first but directly from the warehouses. Besides reducing the supply chains all of the employers are requiring minimal skills to none so they are minimal wage slaves.
shit i thought i was the only one 😂😂😂😂😂
So true. I do that barnes and noble
good luck with the fitment ! nothing like trying on before you buy!
Sales person is a reason too people get annoyed by a creep following you all the time best go online and buy thinks without any one interfering
Im a creep n sry
Especially how they stare and those judging eyes.
That's a unique problem in India, they haven't adopted to online.
Retail is not dying it's getting rebirth
#acquisitions
Malls are dying, its not that you don't know it, you just don't get it
@@teddylumidimusic not all of them. There are quite a few in the US still doing extremely well, raking in millions of dollars every year. Location, location, location is not just for buying a house, it's also what's allowing some malls to continue doing extremely well.
Of Course even especially Toys R Us is coming back to the U.S.😊
Except for clothing! Everything online! Clothes, I have to try them on 'cause no one has the same size even if it says medium!
Atem S. Amazon solved that issue. They have a program where you can order and try on different sizes and send back what doesn’t fit and what you don’t like.
@@ND001X still, am not interested in ordering, trying it, doesn't fit, send it back, get another one, receive it try it again... Clothes, when I walk out, I have the good size! I don't have time for the back and forth!
Atem S. Amazon clothes program lets you get all the sizes that you want all at once, then just send back the ones that doesn’t fit or what you don’t like. It takes the guesswork out of shopping.
After VR and AR that issue can be solved
You should look for online stores that have detailed measurements. Like shoulder width, bust/chest, hip etc. This is how I do my clothes online shopping. It also helps that there are reviews with photos from other consumers.
Some other things to note, a medium in Asia is not a medium in western countries.
Adrenaline rush?! I just find shopping boring. Well, unless I'm buying a phone/laptop/other gadgets😅
But I do feel that some things like clothes should better be bought from a physical store. It's difficult to know the quality of the garments and how they fit you from a picture.
Agree! I've never buying clothes online unless for t-shirt
Me too
It's not just the retail. It's the connection inside a community. Things that create a human to human vibe are fading. I maybe old school to say this. But it can never be complete when you buy a bed,table or even a toy online. The product is just half of the measure of the true value. The remaining half is in the event of buying itself. It's all in the little fights my wife and I used to have over which coffee table suits us best. The excitement you see on your daughter's eyes when she steps into the toy store can never be described in words. I have always admired the warm smile of the middle aged cashier in the nearby market. Between computer programs and humans, I will prefer humans as much as possible.
👌 very well written sir!
@Motmaitre It depends on the product and the country you are in. In India, the conventional wisdom to enquire in 5 shops,bargain in three and choosing one seems to be fine. And for most of our purchases, this usual way seems better for now. And I never said I won't switch to online. As a matter of fact, I had just bought my mobile phone in Amazon. I just said that i'll stick to the old way as much as possible. And there is also the psychological aspect of consumption in online shopping. Their fuel is the combination of this so called convenience,abundance of choices and projection the modern trend. I dono about others but as for me, I lack this self control and conscience for responsible consumption. Considering everything here, I believe my decision will be right for my family.
I am old school.
I like to touch,
feel, try on first before I spent my hard earned money
The disadvantage of online is that it is not the product the you bought from what you have see on the site. sometimes, you get scammed of their products because instead of buying the quality online, the product delivered is cheap or have damages
CNBC explains economics so well !!
Clothing stores should not die because I am tired of returning my clothing because it doesn't fit.
I know what size to buy but apparently some clothing I have to get a size up or down.
retail is not dying....millennials just dont have money. so messed up because all companies are basically consumer good companies......their employees are the millennials who buy the goods but they are the ones not getting any raises. What do you expect? frustrating.....
rsingh What kinda loser millennials do you hang out with? Im in Seattle and a millennial (born in 82), and most of my millennial friends are working in tech making 90K minimum and much more. Expand your friends circle.
@@552mustang well your so-called millennial friends would be out of jobs by the next decade or so generation z is coming for all of us.
zain acparts None of my millennial friends are going to be out of a job for decades if ever. You do realize I live in Seattle right? Amazon, Boeing, Microsoft, Starbucks, T-Mobile, Zillow, Redfin, Expedia. The companies we work for control the world and are going nowhere. Besides Gen Z are morons, literally too stupid to be entrepreneurial. Thats why theyre increasingly commie. They arent capable of either innovating or starting industries.
@@552mustang "Im in Seattle"
Must be fun paying 2k a year for a piece of shit apartment.
Making 90k isn't really that much when you're paying absurdly high cost of living payments.
Joe Poe Try $1400 a month with property tax escrowed for a 2100 sq ft house. LOL Most homeowners in Seattle (like me) didn't buy their houses yesterday. Current rent rates mean a grand total of nothing when you own a house.
Shopping in physical stores will always be enjoyable and have a place, the issue is that stores can no longer just have bland, boring store with terrible stock and do well anymore, now they actually have to put effort into their stores. Just think about it, many stores still pretty much looked like the stores did in the 50s.
hema, not hama. And retail stores will never die. Online shopping for clothes and groceries and their quality is utterly based on luck.
@Amusis in one hour, I could have walked to my store, bought a crapload of groceries, walk home, fix the stuff I want, put away the rest, and still had time left over!
We are at peak Amazon. Because they now charge tax and shipping and shipping times are increasingly slow. Plus Amazon has a bad image like Wal-Mart. There will be a slowdown on Amazon sales in the coming years.
I prefer retail over online anyday anytime.I would never buy clothing and tech products online.
I would only buy repeat products
A video on What drives crude oil prices please...
Mayur Nanda Production and OPEC. Production has soared massively recently due to fracking. Like because of all the oil in North Dakota (the Bakken), the US recently surpassed Saudi Arabia and Russia as the worlds largest oil producer. All this oil has mitigated the price. The other factor is OPEC. Saudi is keeping production high and prices lower to deflect from all the political instability in Saudi Arabia
I think Alibaba or Amazon is just openning a few stores as " experience store" , not exactly retail and also for product that you haven't bought before, if you are looking at retail in the most classical sense, it is dying, think about it, if you know exactly what you need, ie. a razor or an xbox , would you go to a store or would you just buy it online?
Not exactly, but it is changing into having websites open stores which is explained in the video and having the small businesses come back each with their own site or app.
“Star Wnrs” by LEPIN 3:59 😂
It's definitely gonna be dead when Amazon start delivering by seconds via drones 😎
Pmjf lets see how long that will last when the economy collapses because no1 has a job anymore 😎😎😎
Amazon's physical stores are really just big banner advertisements of their giant logo.
Honestly if physical retail was cheaper than online, not price matching or anything legit cheaper, I'd buy from them. I just go to stores to see the product test it out or something then see if it's cheaper on Amazon. 99.9% of the time it's cheaper so I just order it on Amazon there in the store.
There's always gonna room for a physical store but it definitely will be more of a try-on experience.
Those days: drive to store, try on the clothes and buy what you need, wear them
Today: login, look for pictures , buy a pile, track shipment, try them on , return the fails , track returns, call support, wait for refunds, keep the receipt just in case and then wear what you have left. Then you brag about buying it online.
Why there no long documentary short videos are not enough
I’m getting that chicken wing pillow 😂
"Nothing like the adrenaline rush of a shopping spree"
Can you imagine being so shallow?
yes
So, they go to the brick and mortar store to see the products then scan the code to buy them online?
In the Philippines Retail is still Growing. I don't why US companies can't do innovation.
One wide NEGATIVE news about Online shopping and the industry gets boomed.
It's a bubble near the eternal pin of offline retail stores.
🤏🤏🤏🤏🖕🖕🖕
where is the singapore store located?
If we no longer require to go out then what’s the point of buying say “new cloth” online? No body will see you, part of going out shopping is people like to be seen somettime
I love B&M retail. I will order online and pickup in the store....love it!
Basically the internet and online shopping
i've worked in the store fixtures industry for over 15 years; and I can tell you, retail stores are dying - there aren't that many malls being built these days because of online retail - folks don't go to physical stores to buy stuff like they used to - hence, only a minute number of brick-and-mortar stores are being built or renovated. Most have chosen to close for good. Don't believe me ? Check out the "Dead Mall Series" on CZcams.
Facial what?
Can we make retail stores more affordable like tax breaks for rental space rental?
I can't find best range of products from existing retail chain..but through online shopping I can buy various brand's...really love modern retail system
you should attach deviance of statistics with your videos..
I hate shopping for cloth especially at the mall, where you have excessive sales people. So I hope in the future I gets revamped
You should read "The Accidental Superpower" and "The Absent Superpower" by Peter Weihan.
Lack of innovation is why malls die
It's changing and the landlords / developers need to change with it.
Given the option, people prefer the cheaper price and convenience of buying online, for most products. There's no reason to pay for all the costs associated with bricks and mortar like wages, rent, utilities, theft.
Do video about why finland school are so good
That's because those companies did not want to innovate but the companies who do will live
I wonder how the SM malls of the Philippines will counter the advancing age of e-commerce.
3:58 selling Lepin Star Wnrs
Anybody got stats on the Indian e-commerce scene? That info would really help.
Hi CNBC can you do this research for indian market..?
@Criminology 101 you littel mind narrow guy u should know that CNBC is not limited to america only.they have international reporting and correspondent and about smart people of india just google the contribution of indians in your economy...
Criminology 101 you are soo dumb, English is not American. You are not even speaking your OWN language, because you dont have one.
there is the classic store
let's call it 1.0
products almost never change
the owner chose the products
it is boring
now, there must be a new store
let's call it 2.0
products always change
people choose the products there will be via an app
on the app, there is a huge catalog, people choose the products that will show up in the store.
the store is constantly being supplied with the products people choose.
my other browsing tab was Amazon !
If you really think about it. Amazon doesn't create products. They are really the us postal service. They ship stuff people bought from them..that they bought at a cheaper rate. It's really brilliant.
I will always buy clothing from stores till I can but for rest products online is great
Sayan guria yeah it’s best to buy clothes and certain gadgets in store instead of online to make sure they work for you
Did anyone notice she said "Facial Racanickshion " at 5:53 instead of facial Recognition.
We also noticed that english wasn't her first language so we wasn't a douche about it.
@@rodfranc7597 But did you Know that she worked, lived and studied in Bangkok, Beijing and London. She is a graduate of the London School of Economics.And for the record it is neither my first language (English.)
@@israr945 So you're one of those immigrants that think they're better than the other because their English is a little better? I know your type very well.
@@rodfranc7597 Sorry sir but I am not an immigrant. I am An Indian national living in India. When I pointed out the mistake "Facial Racanickshion " I was just wondering how it could have been missed by CNBC production team. I am sorry if I offended anyone. Thanks.
Dude, get a girlfriend and find sth better to do. Watch news with native speakers, they make mistakes too.
These online startups will lead the world towards The Greatest Depression we have ever witnessed.
Some things is best to buy seen physical.
I think producing when people want to order cause company's management and organization
Did she say at 21 seconds
"Challenges brick and mortar stores are facing like toys r us ? "
Toys r us is not a brick and mortar store - face palm !!!
Has anyone thought far enough ahead and wondered.. who will have money to buy things online when there are no more jobs for humans or brick and mortar stores.
its a nightmare to watch this reporter talking
In the Philippines you can buy Prohibited drugs and anti biotics online in lazada.
What tyoe of drugs
Adapt or die. I prefer going to go buy items in the store to avoid having to wait for delivery
Personally, in an emergency I don't know about ordering stuff online. They may be able to do it but I don't want to rely on that. I am not sure about if I want to rely on buying stuff online in an Emmergency because I don't know if it will work.
I still prefer the traditional shopping. That way I can pick the best quality specially clothing.
A very poor report, keeps saying don't rule out bricks and mortar then goes on to give more statistics for online shopping? three times...then I ditched the video
Did any one edit this??
It's true that if e-commerce are thriving, then that means transportations are thriving too, since they have to be sent via air or land or ship. If transportation are thriving, then mechanic must be valuable, and whoever selling transportations' spareparts like car or ship or plane must be thriving.
If that's true, employees will change their job into self-employed, or working with travelling or transportation or technology industries.
But there's no point of selling something without creating something : clothes and house parts. Designer are needed as much as mechanic. Self-farmer are priority too. Water is the most important thing as food. Knowledge like geography, science, biology, anything that makes natural resouce can be converted into money and anything that converted into natural resources.
There are many ways to work things out, as long as we can still thinking solution.
That's not Fucking fair that other Countries building new malls but not the U.S.
Retail isn't dying, it's just changing to more modern technology to shop.
how about having eating and toiletings online? what would be the possible solution??????
Of course retail is dying out people getting ripped off by government. No work no money.
Facial what @5:52 lol
These small retailers should have merged together to avoid getting destroyed by amazon or ali baba and then create your own online selling platform.
Mergers will bring investors and money for research and development. you can't get rich alone.
Holy shit if you think buying clothes is an adrenaline rush you have not yet lived
Wanna know about inequality of income with 35 crores population is second highest market of e-commerce India with 130 crores is no where in the list
Keval Shah The USA has a GDP per capita of almost $60,000 , China $8,800 and India $1,800. Simply put Indians don’t have the disposable income to shop in significant amounts.
@@Handle6478 not really. 1800 bucks is just per capita according to nominal GDP. But if you look at it the real income of an average indian would be around 7000$.
@@hardrock342 yes by PPP Indians have purchasing power of 7,000 and Chinese about $16000 but tell Gucci and Rolex that My Ruppee and my Yuan is worth 3x what the market says. It works for local goods yes you can buy for the local prices but try that for imports and they will laugh. You cannot buy the goods for local prices, only the dollar denominated value. The world runs on the dollar not the rupee or the Yuan.
@@Handle6478 Good. Indians shouldn't become slaves to ridiculous foreign fancies. Especially with so many white people coming to live here leaving their jobs and consumerism back in their countries.
there is the classic store
let's call it 1.0
products almost never change
the owner chose the products
it is boring
now, there must be a new store
let's call it 2.0
products always change
people choose the products there will be via an app
on the app, there is a huge catalog, people choose the products that will show up in the store.
the store is constantly being supplied with the products people choose.
Evolution in inevitable, so is innovation. Online retailers are more of a innovative tech company rather than boring "marketplace". That's why they are also succeeding in offline stores. Amazon go is such an example and so is china's Alibaba.
You mean major box stores are closing! Boycott fast fashion, shop small business. Less stuff = Less stress!
Please make video on real estate in SEAN
Maybe but not on black friday!
The struggling retailers are being flushed out due to little to no reallocation of e-commerce sales.
I still like to go out to a mall and purchase stuff.
As much as all these 'experts' spouts retail is dying the fact is that it isn't. Amazon might be for some but many still need retail stores especially clothing/apparel. You just want to try it on. Stores that innovate survive. Sears fail to change with the trend therefore they lose.
4:00 intoxicated dreamland? WTF?
We need apocalypse of retail so we can have new things
there is the classic store
let's call it 1.0
products almost never change
the owner chose the products
it is boring
now, there must be a new store
let's call it 2.0
products always change
people choose the products there will be via an app
on the app, there is a huge catalog, people choose the products that will show up in the store.
the store is constantly being supplied with the products people choose.
Those Americans needs to get along with retailers
3:59 STAR WNRS
You missed the qr code :)
4:13 you scan the... what???
ONLINE IS CHEAPER... ALSO SAVE ALOT OF TIME
Wallmart data?
Alibaba sells nothing but knockoffs.
retail is not dying, it's the B&M that are dying. Retail is getting a facelift.
Sales people in stores annoy me, let me just shop without you asking me 100 questions. If i have a question, i will come to you.
I like to touch see material try on if fits
Online shopping sucks on clothing
I'm okay with electrics
Retails like walmart and best buy aren't going anywhere LoL.
See you sears I always liked to look I just didn’t have money to buy anything.
reatilers simply move to onlines! its their workers who suffer since we need very few workers selling online?
Wow, people Pre-COVID were crazy :) Look at it now.