LOS ANGELES—“The growth of Amazon is staggering, and has, by necessity, forced all participants in the retail sector to re-evaluate how we do business.” That is according to TR Gregory, SVP of development at GPI Cos.

Gregory recently told GlobeSt.com that eCommerce has made and will continue to make an existential impact on the way we shop, dine and are entertained.

“Those most impacted have been commodity-type offerings including movie rentals & sales, electronics, furniture, clothing, office supplies, sporting goods, books, and department stores,” he says. “Those that have weathered the e-storm and are most likely to survive include those offering daily needs, lifestyle and experiential concepts including grocery, pharmacy, services, fitness, entertainment, food, and beverage categories.”

And retailers must incorporate eCommerce into their growth (aka survival) strategy, he adds. “They need to adapt to the changing landscape and continue to evolve the way they deliver their product.”

As we de-mall, as grocers and drug stores consolidate, and as it becomes easier to consume, Gregory says that never before have location and the consumer experience been such critical components to success in the changing marketplace. “The best projects in the best locations will thrive. The rest will not.”

As for what developers need to deliver? He says that they must “deliver projects that give consumers a reason to step away from the screen and Uber to the nearest shopping center to buy groceries, get a prescription filled, buy a Mother's Day card, spin/yoga/pilates, be entertained, or get a juice or caffeine fix.”

Most of all, he adds, “consumers want more than to simply consume, they want to live. Give them an experience that they can't get at home. Don't be a developer, be a Placemaker. There are no norms, just change. In the words of Aaron Allen, retailers, food & beverage operators, and developers need to 'be distinct or extinct.'”

GlobeSt.com also recently chatted with retail expert James Chung, executive managing director in San Francisco for Cushman & wakefield, who further detailed Gregory's point about the food and beverage categories. According to Chung, “Interest in the luxury theatre segment of the food and beverage sector is truly at unprecedented levels: think higher price points, less seats, and luxury accommodations. Everyone's doing it their own way, but thematically, there's interest in that category that I personally haven't seen in my years as a broker. These operators are curating a unique experience that's wholly unlike the traditional theatre concept, and they are completely revolutionizing the way everyone goes to the movies.”

He explains that what's more, he is seeing activity in the 40,000- to 50,000-square-foot range of the sector from legacy players who have traditionally owned the market and are now reinventing themselves. “Many of these tenants are able to reuse existing second-generation boxes through creative repurposing, and while that process often requires substantial capital investments from both the landlord and tenant, it can yield incredible returns if done well. As pundits ponder the future of big box retail, on the ground I can say that we are in the midst of an incredible revitalization in this sector – and I don't think it's too far off the mark to say that very few saw it coming.”

Gregory recently told GlobeSt.com that eCommerce has made and will continue to make an existential impact on the way we shop, dine and are entertained.

Instant Insights /

Changing the Way We Shop, Re-Evaluating How We Do Business

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