ATLANTA—How can a shopping center owner help a retailer make a renovation project happen? Are these retailers renovating and redeveloping due to an increase in competition? Answers to questions like these are helping landlords attract and retain tenants.
GlobeSt.com caught up with Bill Brown, president of Atlanta-based Halpern Enteprises, to get some answers to these and other questions in part two of this exclusive interview. In part one, Small Town Retailers Attracting Big Brands, we discussed why retailers are looking beyond bigger cities to spend their renovation dollars—and why this is a move they expect to see pay off.
GlobeSt.com: How can a shopping center owner help a retailer make a renovation project happen?
Brown: As an owner, you can do your part to improve the common areas, which could in turn help prompt the retailer to improve the inside. This can be upgrading a parking lot, painting a storefront or adding landscaping to a shopping center.
GlobeSt.com: Are these retailers renovating and redeveloping due to an increase in competition?
Brown: We're not seeing a whole lot of new development of centers, so anchor retailers have to get creative when it comes to battling the competition. Take Kroger, for example. With a Publix and Super Walmart near the Kroger store in Carrollton, the chain knew it needed to do something to better compete.
The best way they felt to accomplish this was to keep their prime location but do a major expansion. The additional space more than doubled the store's size. Now called a Kroger Marketplace, the store offers a wider variety of services, including a jewelry store, furniture, Starbucks and full pharmacy, better competing with Walmart.
GlobeSt.com: Why is it important for smaller-town retailers to stay current, even if there is no obvious competition in an area?
Brown: Even if retailers don't have brick and mortar competition nearby, staying current can further solidify their position in the market. As an example, Belk has been in the Griffin area for several decades with no malls or traditional department stores as competitors. But even though Belk is the only opportunity in the area for people to buy quality labels, the retailer decided to add new merchandise to better meet the changing needs of its customers.
Also, retailers are always in competition with the Internet. If they aren't up-to-date with their products, consumers can go online. Retailers need to appeal to customers with fresh, updated stores so they will want to shop in person, as opposed to going online.
GlobeSt.com: Why is it important for smaller-town retailers to stay current, even if there is no obvious competition in an area?
Brown: Even if retailers don't have brick and mortar competition nearby, staying current can further solidify their position in the market. As an example, Belk has been in the Griffin area for several decades with no malls or traditional department stores as competitors. But even though Belk is the only opportunity in the area for people to buy quality labels, the retailer decided to add new merchandise to better meet the changing needs of its customers.
Also, retailers are always in competition with the Internet. If they aren't up-to-date with their products, consumers can go online. Retailers need to appeal to customers with fresh, updated stores so they will want to shop in person, as opposed to going online.
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