Retailers are investing in all manner of tech gadgets and services to bring shoppers; Industry experts share insight.
By Richard Berger | December 5, 2023 | As published by GlobeSt.com
Retail executives have long known that foot traffic increases when they can provide an “experience” for the customer, such as by adding gathering places or dining venues.
Retailers are now taking that a step further by featuring in-store experiences such as nail and eyelash salons, coffee shops, repair stations, super-sized TVs, and enhanced digital shopping options while walking the store, according to a story this week in The Wall Street Journal (WSJ: Fashion’s New Look for Stores). … But this trend can be seen in tenants of all types, experts interviewed by GlobeSt.com report.
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…Vicky Hammond, Managing Principal at Coreland Companies, reports a similar trend. “Re-invention is central to a retailer’s growth, thus the uptick we have seen in leasing activity and investment,” she tells GlobeSt.com.
“Not only have most of our tenants with expiring leases renewed this year but there has been a strong emphasis on improvements.
“Today’s consumer demands quality and experience, making investments in store locations and shopping experiences a must. To some tenants, this has meant keeping the location looking fresh, but to other national brands, this means constantly improving technology to enhance in-store experiences and cross-platform sales.”
“You see the differences in smaller and larger retailers alike – less merchandise on the floor; the ‘spotlighting’ of other brands like Sephora within Kohl’s; and a more holistic approach to shopping with a café, lounge or other service such Dick’s batting cage.”
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