LAS VEGAS—Post pandemic, the retail landscape underwent a profound transformation. As businesses adapted to the new normal, a notable trend emerged: a renewed focus on proximity to the consumer. This shift, outlined by Ryan Moore, CEO and Co-Founder of Last Mile Investments, propelled retailers and non-traditional businesses alike to reevaluate their strategies, particularly in terms of location.
Gone were the days of traditional retail hubs drawing in crowds solely based on their brand or product offerings. With hybrid work schedules becoming increasingly prevalent, businesses began to recognize the importance of being close not only to where consumers live but also where they work.
This realization, according to Moore, sparked a renaissance in "unanchored". Situated strategically in suburban locales along bustling thoroughfares, these centers boasted convenience and high visibility, attracting both retailers and consumers alike, Moore tells GlobeSt.com.
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The ripple effects of this trend were palpable, as shown by tenant demand, notes Moore. Essential service providers, once relegated to office parks, hospitals, or malls, now found themselves drawn to these suburban hotspots. Urgent cares, physical therapy clinics, and dental practices began to populate the landscape, catering to the needs of the surrounding community in ways previously unexplored, he says.
As Moore observes in their tenant meetings at ICSC Las Vegas, the evolving tenant mix underscored the broader shift in consumer behavior. Consumers craved convenience and accessibility, and for retailers and service providers alike, the key to success lay in meeting these evolving demands head-on.
Check out related retail stories below that you might have missed and stay tuned for more trend coverage from other retail experts we spoke with as the ICSC approaches.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
