Retailers Taking Smaller Spaces

Serving Santa Barbara, Ventura & San Luis Obispo Counties

May 4, 2018

Retailers Are Taking Smaller Spaces

We all know retail is facing a historic inflection point.  The brick and mortar experience is being de-constructed and re-imagined as retail 2.0 – turning retail space into event zones, pairing the shopping experience with companion experiences that transform a trip to the store into entertainment.   There is also the “omnichannel” concept of offering customers both retail and online shopping in the store, thus showcasing, in many cases, a far larger virtual inventory than the retail footprint allows.

If you can imagine a concept, it’s being considered as developers, landlords and brands struggle to bring consumers back into malls and retail centers to shop.  And a bright spot, in this Age of Amazon, is the re-emergence of local and regional brands who offer  the immediate and personal experience – “I can touch it, feel it, see it and I can talk about it!” – that Amazon simply cannot provide.

In many cases, however, a little start-up with an interesting idea or the local operator of a small business, no matter how unique, just can’t afford very expensive rent. The trend among some enlightened landlords, therefore, is to create, or carve from larger buildings, smaller, more affordable spaces, or subdivide larger spaces to accommodate multiple tenants under the same roof.

The hopeful dynamic here is that landlords who recognize, curate, and support local proprietors who offer retail experiences and products not readily available online are a formula that seems to be working.

 

Above is a 200sf space in a newly renovated mall in Ohio.

The National ICSC Retail Shopping Center Convention is May 20-24, 2018 this month in Las Vegas.

This retail convention draws over 37,000 attendees, 1,200 exhibitors, is in over 853,000sf and holds 30 Educational Sessions and Workshops.

 

“We put the client first”

 

If you would like more information about this topic, please contact Pamela Scott at (805) 560-0040 or email at pscott@gpscre.com.

For all our recent blog posts please visit www.gpscre.com/blog.

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