Because of this pandemic, the government imposed some strict rules to follow to avoid the spread of the virus. Due to lockdown, many malls, shops were forced to close, which caused a huge loss for mall owners and shop keepers as there was a decrease in customers. This spread of the virus has become a fear for everyone, and thus people started to order essential things online. And eventually, it also became convenient to order almost everything. There are many reasons why shopping malls are facing great issues in this pandemic. Some of them are given below
Growth of e-commerce: As mentioned earlier, due to the pandemic, people prefer to stay safe in their houses and this resulted in the use of online shopping platforms. People started to use online shopping platforms first to only order the essential things, but it became so easy that now everyone feels that shopping anything with just one click by simply relaxing at home is better than personally going to shopping malls. Facilities such as easy categorization as per customers choice, great discounts succeed in attracting customers. So eventually, customers prefer online platforms to satisfy their needs.
Decrease in sales: As customers are now becoming more dependent on online shopping platforms for convenience, it will result in a decrease in customer insights in shopping malls. It becomes obvious that if a customer gets more satisfied by using online sources, they will prefer it more. And as this continues, shopping malls face a great lack of customers and will slowly result in huge losses in sales. Growth in sales has always been considered as growth for a mall, but the opposite can cause a drastic turning point for the mall owners. Many of them have also faced bankruptcy.
Problems faced due to rent payments: The government has ordered closing most of the malls during lockdown to decrease the spread of coronavirus. Even though the shopping malls are ordered to close, the owners should pay the rent for it, which makes it stressful for owners as they also face some financial crisis due to the pandemic. So the rental payment can become a burden for them too.Â
Unemployment: As many shopping malls faced a financial crisis, it caused some of them to close permanently. Closing the malls resulted in unemployment for many workers. So this pandemic has caused such a drastic change for shopping malls owners and also for the workers.
In conclusion, we come to know that indeed customers can find it easier to shop online due to its attractive facilities, which causes a great loss to shopping malls. And as the government has ordered to temporarily close the shopping malls, it becomes another big issue as it results in a decrease in sales. But as vaccinations are being available for all and due to the constant effort of the government to bring all things back to normal, we hope that the pandemic will end soon and everything will be back to normal as it used to be before.
