Retail’s disruptive trend is real estate's challenge and opportunity
The impact of consumers’ changing buying habits is pervasive in today’s retail environment. Consumers flock to their digital devices for buying decisions and the best bargains, and open their wallets more to experiences than products. In response, online sales are growing and the physical retail landscape is changing. Store footprints are smaller, restaurants are prevalent in shopping centers, and so-called anchor stores are disappearing as seen by the recent closings by Sears, Kmart and Macy’s.
So how has this shift affected the real estate industry? As retail evolves so must its real estate counterpart. But how? Our industry insiders, John Nicolopoulos, national practice leader for the retail and restaurant sectors, and Michael Schwartz, national real estate consulting leader, share their insights in the following two videos.
Are we seeing the beginning of the end for malls?
What are developers doing to drive mall traffic?
RSM industry leaders share insights on how retailers must re-envision the traditional store to meet customer needs, and stay profitable too.