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Mitchell Chi

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Malls Are Dying, But There’s A 3-Step Plan That Can Save Them

Posted by Mitchell Chi on Oct 17, 2019 8:00:00 AM

I read a recent article in Forbes that talked about upheaval in the shopping mall industry. There's a link to it at the end of my commentary and I would really appreciate hearing your thoughts on it as well. Here are mine:


Your days are over. People want a social experience, not products. Mark-downs and sales clerks. As we all know, the hype, “Retail is Dead” is just that, hype. Consider the following. 87% of consumer retail is transacted in brick & mortar, physical stores. Yes, you heard me…87%. In fact, a recent NRF report stated retail sales, in stores, are up 4.9%. NOT e/comm, by true shopping and social interaction.

The net is, if you fear Amazon will put you out of business, shame on you! You “owned” your customers for decades, but did you do anything to earn their loyalty except showcase your products? 30% of my personal shopping is on-line. Mostly under $50 commodities. 70% is spent with retailers who invest in their employees training & wages, innovative products, and exceptional customer service, both pre and post sale. Malls are (I hate this word), “transforming” into social town centers with entertainment (movies, concerts, festivals), attractions (claiming walls, work-out centers, VR and the like), hard goods (driver training hosted by auto manufacturers, cooking classes hosted by appliance manufacturers and the like) and most of all, a place to stop texting and start socializing”. Mall dead? Yes, while town centers are thriving!”

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Topics: Fashion & Retail, Retail, Infor Retail, Online Retail, CloudSuite Retail, Shopping mall

Understanding The Impact Of ROI In Business System Decisions.

Posted by Mitchell Chi on Jul 23, 2019 8:00:00 AM

Modern organizations rely on business systems to operate. In order to improve efficiency, businesses invest in technology to provide advantages. Technology investments have historically failed to deliver the promise of increased efficiency and maximum ROI. A recent study of 7,000 ERP implementations by the NorthPoint Group revealed the following; only 32.2% reached the ROI goals, user adoption was below 62.4%, 73.5% exceeded the approved funding, and 53.3% missed the go-live date.

For any other investment, these would be horrible results. For technology it's not only the norm, it's expected. Imagine buying a dozen eggs, finding four are rotten, and going back to buy a dozen more of the same brand from the same shop. This is what is happening with technology investments.

The question to ask is, “why do companies continue to approve funding for technology projects when the original return on investment is often missed?” To understand the answer, you need to first understand the process companies use to analyze and fund a technology-based business system. Aside from complex terminology such as hurdle rates, IRR, reverse trending, and the like, companies analyze funding an investment using a widely adopted financial tool called the "J Curve".

Understanding the three components of the J Curve will answer the "why".

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