Category: Brokerage

Don’t blink. If you do, you might miss the evolutionary, and at times, revolutionary change happening in the shopping center universe. American malls and shopping centers…what used to be a staple of suburban life, are going through a sea of change. With a recent slew of large department store and national retail store closures, the retail map and players are changing. And with that change, both the design and technology landscape have taken on an even greater role in the development and finished product. 

Consumer behavior seems to constantly evolve, yet with the advancements in technology, the evolution is now measured in years instead of decades. Thanks to smart devices, consumers find convenience and peace of mind while shopping on the go and the numbers are telling. Forrester, a research company, estimates e-commerce is now a $200 billion industry capturing nearly 10% of sales. While the consumer gains, the brick-and-mortar stores are the “victim,” vacating malls and other buildings as retailers fail to adapt.