LAS VEGAS—“Omnichannel retailers' operations staff is much more involved in making real estate decisions.” So says Dave Collins, EVP of portfolio management at InvenTrust Properties Corp.
He recently told GlobeSt.com that there is a consideration about the positive effect of new locations on the retailers' online sales. Plus, he says, “the retailers' own customer data, accumulated from both bricks and mortar and online sales, often influences expansion decisions.”
And according to Soumya Das, CMO of Inpixon, the rise of the online shopping is all because of convenience. “I predict brick and mortar stores will combat this by leveraging technology to improve the customer experience and tailor towards consumer preferences and needs,” he tells GlobeSt.com. “In today's omnichannel world, retailers are challenged with getting shoppers into the stores. By leveraging data and analytics, retail brands can get to know their customers better and develop a deeper understanding of how they navigate the store experience and their shopping preferences.”
He adds that this not only will help retailers design stores with the customer in mind but also help brands create highly personalized offers and adapt services to enhance the shopping experience.
Another trend he is seeing is the move to a showrooming format. “Take Warby Parker for example. It's crucial for retailers to influence the buying decision right then and there in the showroom, so they're buying from the retailer, rather than buying online elsewhere. I expect more retailers to implement this structure and experiment with new store concepts in order to combat online giants like Amazon and ecommerce companies.”
And with these experimental efforts, he says, “traditional retailers will have an opportunity to compete if they're willing to evolve. We will continue to see more conventional stores closing, however we will simultaneously see unconventional stores opening.”
For other thoughts from experts who attended the ICSC RECon event here in Las Vegas and to learn more about panel coverage from the event, check out the articles below.
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Retail Expert: The Future is the Carful Curation of Space
What Brick and Mortar Retailers Need to Do
Caruso's Key to its Success, What Retailers are Looking for
A Closer Look at Retail Lending, Investment
Retailers Now Have Tremendous Options in “New Submarkets”
Experts at ICSC's RECon Say It's All About Fitness, Beauty, Food and Service
Will Food Halls be Retail's Hottest Growth Story?
Food and Beverage's Role in New Real Estate
Authenticity Is Critical to Food Hall Development
Upclose With Franklin Street at ICSC's RECon 2017
VEREIT Recognizes Top Leasing Brokers at ICSC RECon 2017
A Closer Look at Leasing Financials, Retailers Resiliance
Top of Mind Topics from ICSC's RECon 2017 Conference
DDG Talks Retail Landscape Shift, New Opportunity
Will Negativity in Retail Continue Until Sears Falls?
Is Retail Being Painted With Too Broad a Brush?
LAS VEGAS—“Omnichannel retailers' operations staff is much more involved in making real estate decisions.” So says Dave Collins, EVP of portfolio management at InvenTrust Properties Corp.
He recently told GlobeSt.com that there is a consideration about the positive effect of new locations on the retailers' online sales. Plus, he says, “the retailers' own customer data, accumulated from both bricks and mortar and online sales, often influences expansion decisions.”
And according to Soumya Das, CMO of Inpixon, the rise of the online shopping is all because of convenience. “I predict brick and mortar stores will combat this by leveraging technology to improve the customer experience and tailor towards consumer preferences and needs,” he tells GlobeSt.com. “In today's omnichannel world, retailers are challenged with getting shoppers into the stores. By leveraging data and analytics, retail brands can get to know their customers better and develop a deeper understanding of how they navigate the store experience and their shopping preferences.”
He adds that this not only will help retailers design stores with the customer in mind but also help brands create highly personalized offers and adapt services to enhance the shopping experience.
Another trend he is seeing is the move to a showrooming format. “Take Warby Parker for example. It's crucial for retailers to influence the buying decision right then and there in the showroom, so they're buying from the retailer, rather than buying online elsewhere. I expect more retailers to implement this structure and experiment with new store concepts in order to combat online giants like Amazon and ecommerce companies.”
And with these experimental efforts, he says, “traditional retailers will have an opportunity to compete if they're willing to evolve. We will continue to see more conventional stores closing, however we will simultaneously see unconventional stores opening.”
For other thoughts from experts who attended the ICSC RECon event here in Las Vegas and to learn more about panel coverage from the event, check out the articles below.
How Foodie Culture Has Changed the Way Brokers Think
Attract the Retail Store of the Future to Your Community Now
Retail Expert: The Future is the Carful Curation of Space
What Brick and Mortar Retailers Need to Do
Caruso's Key to its Success, What Retailers are Looking for
A Closer Look at Retail Lending, Investment
Retailers Now Have Tremendous Options in “New Submarkets”
Experts at ICSC's RECon Say It's All About Fitness, Beauty, Food and Service
Will Food Halls be Retail's Hottest Growth Story?
Food and Beverage's Role in New Real Estate
Authenticity Is Critical to Food Hall Development
Upclose With Franklin Street at ICSC's RECon 2017
VEREIT Recognizes Top Leasing Brokers at ICSC RECon 2017
A Closer Look at Leasing Financials, Retailers Resiliance
Top of Mind Topics from ICSC's RECon 2017 Conference
DDG Talks Retail Landscape Shift, New Opportunity
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