Whether it’s the rise of Amazon or the seemingly endless series of mergers and acquisitions in their space, retailers are looking over their shoulders like never before. But there are some bright spots.
What Retail Concepts Will Thrive in 2017 and Beyond
Perhaps more importantly, how can retailers capitalize on those trends.
Completing their three part series on the current state of retail, GlobeSt.com interviewed Whitney Kantor, Director, Retail Leasing at Franklin Street.
Boutique Retail
Kantor says this segment “is thriving”, adding that “…we’ll see even more expansion amongst this group”. Her take is that:
…from independent clothing shops to specialized fitness retailers, we’re going to see a lot more personalized shopping and service businesses in our neighborhoods.
Food Halls And Urban Markets
Kantor sees continued growth in these alternative approaches; and she doesn’t miss the chance to point out that “food halls are a viable option for landlords to fill vacant big boxes”.
More important, perhaps, Kantor notes that the appeal of these spaces is that they:
offer a mix of chef-driven concepts and independent operators that sell local produce and artisanal food in a market-type environment.
Moving Into Smaller Cities
And it’s no longer a big city thing, Kantor says these spaces that became a hit in “Atlanta, Seattle, Nashville, as well as…New York and Chicago”, are finding homes in “cities with strong foodie cultures”.
‘Omni-Channel’ Is A Critical Business Model To Adopt
Using the word ‘finally’ is how Kantor describes retail’s adoption of the omni-channel model, saying:
Retailers that have finally figured out the omni-channel model will lead the pack in 2017. It’s undeniable now, that as a retailer you must have a model that connects costumers from a variety of different channels.
And tossing something out for investors, she quips:
Luckily for those in commercial real estate, this model does include having a brick and mortar location.
She goes on to say:
From Starbucks to Target, to the mom-and-pop-shop—retailers are connecting with their customers in a variety of ways to get them in the store. Internet-based companies, such as Amazon, are now looking for storefronts.
Stay Up-To-Date In Changing Times
If retailers are part of your investment strategy, you know how fast things are changing in that space. If you’re not able to spend the time to keep up, your investments might be at risk. Put an expert in your corner by calling René Nelson and the professionals at Pacwest Commercial Real Estate at 541-912-6583 today!
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