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The global retail real estate industry is in transition to become a combination of physical and digital marketplaces. Yet, there is a very important player that is entirely missing from this transition: the shopping center. “On average shopping centers have close to zero revenue from e-commerce today, all of it is on the tenant side,” Placewise CEO Peter Tonstad tells GlobeSt.com.

This is a significant shortfall when you consider that in 2021 13% of total retail sales in the US was e-commerce, he says. “As e-commerce grows physical retail declines, so shopping centers need to become a part of the e-commerce economy to ensure growth in the future.”

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