Written by Fred Stallé
Over the past few years new technologies and the allure of convenience have forced many retailers to compete at a level they probably never anticipated. While the industry has dedicated considerable time towards understanding consumer habits, the equation doesn’t appear simple and is far from solved. Some retailers just can’t compete, some are frightened and unwilling to evolve, while others welcome the challenge, fully understanding the considerable lengths they will need to go to in order to generate an acceptable bottom line.
At the Milwaukee ICSC show, great emphasis was placed on defining the current thought processes of retailers and exploring innovations which help support brick and mortar. In the weeks following, my mind has been rummaging for new ideas. As brokers, it is imperative to understand the thought process of the tenant, but I can’t seem to distance myself from the question “Am I doing enough, too?”
Maintaining relevance has proven to be a detailed science and our retail peers are working tirelessly to do so. Keeping up with the constantly evolving thought process of consumers and ongoing trends, retailers are forced to think differently, and by now we know, certain retail categories just can’t keep up. How can we replace these categories within a shopping center? Entertainment and service providers prove to be successful candidates. Non-traditional users? The list goes on. While backfilling traditional retail in shopping centers isn’t easy, it will take a calculated approach which must not be avoided.
As we prepare for the annual ICSC RECon show in Las Vegas, it is important to re-evaluate our ever-changing leasing and sales strategy. Given the amount of energy going into making the space we offer the market relevant for retailers, we too must dedicate time towards new ideas and push the envelope for our clients.
A guy open to suggestions
Fred Stallé | Broker Associate
Mid-America Real Estate – Wisconsin, L.L.C.
600 N. Plankinton Ave., Suite 301 | Milwaukee, WI 53203
Direct: 414.390.1415 | Mobile: 414.839.7133 | Fax: 414.273.4605
firstname.lastname@example.org | www.midamericagrp.com