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Closing Lumos Ltd. department store - Coggle Diagram
Closing Lumos Ltd. department store
another magnet for the city and its shops has disappeared
less people visit city
other shops are going to suffer
more shops go bakrupt
more empty buidlings/ shops
city dies!
a more lucrative business can rent the empty building
might attract new people to visit city
good for other shop owners
overall attractiveness of city increases
creates new jobs
many people lose their jobs
not many jobs available on the market, especially for older people
former employees lose perspective
probably cannot supply their children
online shopping is the future
E-commerce is estimated to increase by 6% (source: eMarketer)
grow will increase even more because of pandemic
many businesses need to overthink their concepts
companies can offer their employees training courses to educate them and increase their skills
employees are more flexible and can face harder challenges like a switch-over