How many people now-a-days do you know who DO NOT have some sort of smartphone, iPad or laptop? I bet you are able to count that number on only one hand. Let’s face it, it is now the 21st century and having some sort of technology is a must. Smartphones have been a growing trend throughout the last decade, are not used anymore just for texting and calling. Actually, most people are probably on their phone more for other things. Social media sites are web surfing are two main reasons many teens spend hours on their phones daily. Whether their checking to see what their friends are posting or buying items online, there is a constant need to have these phones in our hands 24/7.
With growing technology comes change in the world of business, and if businesses are not able to keep up with this growing trend it is going to hurt them in the end. This is the problem many teen retailers are beginning to see.
High school junior, Mipri Hayed, is no stranger to smartphone use. She is on social sites daily to keep in touch with what her friends and peers are up to. One big thing she uses social sites for is to post pictures of the latest clothes that she is buying. When she goes clothes shopping, she usually takes pictures of her outfits and posts them for her friends to see so she can get opinions. I mean c’mon, she cannot be seen in something her friends think is hideous, right? Well when she does this, she places in the photo what store she is shopping at. Now, this form of publicity could be helping some stores, but it is also hurting a large branch of other teen retail stores. Social media has definitely changed what teen consumers are now focusing on.
Not only does social media play a role in the business of these teen retailers, but the newest trend of online shopping is a major contributor. People no longer want to go in to a mall or store and have to look around for clothes. Why would you when you can easily search for it online in the comfort of your home and have it delivered right to you? Online shopping takes the hassle away from having to go out to buy clothes, and it is becoming the most used way people are shopping now. Many retailers said they cannot even keep up with online sales sometimes. And because of this, many higher names teen stores such as Aeropostale and American Apparel have filed for bankruptcy. And other stores such as American Eagle and Abercrombie & Fitch are struggling.
These stores mentioned have been in business for so long that they are used to having their main sales happen in their stores and not online. Now, online retailers are beginning to see their markets boom while these other stores who are not focused on their online retail are beginning to see sales decline. This new generation of online shoppers is having a huge impact on the profits of these companies and they need to change from being mainly mall exculsive.
Many teens are saying their new found love for online shopping has to do with the convenience of easy and fast shipping but also because it is easier to find something unique online. When you go into a mall, the store can only carry so much apparel. Because of this everyone ends up wearing the same clothes. But when you are online, the possibilities are endless and you are able to showcase many different items. Most teens have even said they started doing much of their shopping on sites like Ebay and Amazon because it is easier to find more unique items.
Are you part of this new generation of smartphone users? Soon most people are going to be able to do almost everything virtually and businesses need to keep up with this rate if they want to stay a business. Hopefully soon the teen retailers who are not on track with this new wave of technology start to change, or they might see their profits coming to a rapid end.