LOS ANGELES—Retail is undergoing a revolution. In addition to changing consumer demands and needs, new retail categories are emerging to further disrupt and change the retail market. According to Judy Brower Fancher, the CEO of Brower, Miller & Cole and a commercial real estate consultant, there are new retail categories, including virtual reality spaces and deconstructed fitness centers, that are helping to drive consumers out of their homes and into retail shopping centers.

“Looking forward, the retail market will see entirely new categories will arise,” Brower Fancher tells GlobeSt.com. “The first will likely be virtual reality spaces, both for retail as we're starting to see in-home goods stores, and for entertainment, where large-scale experiences with motion, scent and surround-sound will greatly exceed anything that can currently be accomplished at home.”

Fitness centers are another retail category that is changing. Now, workout studios are entirely departmentalized into categories, like yoga, spin, barre, and can be connected through apps like Class Pass, which let you attend several studios for a monthly fee, rather than buy a membership to a single gym. “This is creating multiple new tenants that attract the everyday visitor offering an experience that people can't have in the home,” says Brower Fancher.

Not all retail concepts are moving toward the niche. Some tenants are looking for ways to evolve through expansion. Restaurants, which have become major drivers of retail shopping centers, are bringing in more global cuisines, and larger retailers are expanding their products to create a well-rounded experience. “We will also see yet another evolution in retail, as stores broaden their offerings,” says Brower Fancher. “A good example is Anthropologie, which in addition to clothing, now has a large home goods section with kitchen items, carpets and bedding, interestingly evolving into a smaller department store.”

According to Brower Fancher, the birth of new retail categories will continue to be the trend moving forward, and will help to keep retail alive as new innovations are created. “That's just the tip of the iceberg for new tenants,” she explains. “I'm certain in the future there will be numerous categories in goods, services, dining and entertainment that we cannot yet fully imagine. That's why retail is so exciting and why consumers will continue to be drawn to centers of all types and sizes.”

Instant Insights /

The New Categories Emerging in Retail

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