It’s Not Just Ecommerce Pushing Retail to Evolve

Ecommerce is often faulted as disrupting the retail market, but according to Blake Pomeroy of Koss Real Estate, the underlying technology boom is responsible for the evolution in retail and the emergence of ecommerce. The problem is complex, and to truly adapt, retailers and retail owners must leverage technology to meet cultural changes and consumer needs.

“Blaming ecommerce is just an easy answer to a complex problem,” Pomeroy, leasing director at Koss Real Estate, tells GlobeSt.com. “The bigger underlying factor is really about how technology is changing and improving people’s lives. The general public has a multitude of options available to them 24 hours a day, often in the comfort of their own homes. Retailers and investors who embrace and adapt to the day’s current trends will continue to find success, just as they always have.”

As an example, online retailers are finding a need for brick-and-mortar locations, and physical retailers are creating omnichannel platforms to better capture customers. These are not examples of online shopping but rather technology shifts. “In fact, online-focused vendors are finding that they get a bump from having physical stores,” says Pomeroy. “Those who are unwilling to diversify and meet new challenges often look for the most obvious scapegoat.”