Posted on November 14, 2019
By Trey Barrineau
Retail apocalypse? What retail apocalypse?
Yes, there have been significant changes in the retail space in recent years, said Amy Sands, managing director with JLL during “The Latest Trends in Retail,” a panel discussion at CRE.Converge 2019 in Los Angeles. However, she said “apocalypse” is an overblown term for what might properly be called “an experiential revolution.”
“Experience is just as important as offerings,” said Lorena Tomb, CEO and founder of Urbanlime Real Estate. “On-site concierges and digital signs are just as important to shoppers. We like to see a mix of tenants: Food, beverage, health and fitness. If you have a mix that covers the different senses, we can feel good about that.”
Things such as BOPIS (buy online, pick up in store), enhanced services, omnichannel distribution, improved customer service, home delivery, better in-store experiences and augmented/virtual reality are changing the face of retail in the U.S. Physical locations are shrinking, too.