Business Brief: Customers’ Changing Needs Prompt Change In Retailer Behavior

Jun 26, 2017

Jacksonville’s Whole Foods store is among the company’s more than 400 nationwide that will soon be owned by retail giant Amazon.

In this "Business Brief," Modern Cities founder Ennis Davis tells WJCT News Director Jessica Palombo the sale is part of a retail trend of companies’ responding to customers’ changing needs.


As the face of retail continues to evolve, an opportunity exists for out-of-the-box concepts and creative retail strategies. 

Phillips Edison & Company, a fully integrated real estate firm with a national platform of grocery-anchored shopping centers, released its industry insights on trending themes to be aware of at the International Council of Shopping Centers' RECon conference recently in Las Vegas.

Retailers and landlords are responding to consumers’ desire to blur the lines between experience, retail and restaurants.

"There’s a good chance that the shopping center as we know it will look completely different 10 years from now,” said Michael Conway, vice president of National Accounts and Retention for Phillips Edison. “We all have to continue to adapt; when you have an innovative mind-set, new ideas come to light.

"It’s a pivotal time for the industry and we feel lucky to be a part of its evolution.”

The emerging trends team has identified a number of retail concepts that are breaking out this year.

Here are the most promising and significant developments of note:

TOP 5 RETAIL SHOPPING CENTER TRENDS

Locale Market in St. Petersburg.
Credit Modern Cities

1) Grocery delivery programs, “click and pick” options and prepared meals are examples of how traditional grocers like Kroger and Publix have adapted and responded to consumer needs to help compete against businesses like Blue Apron, Plated and Hello Fresh. "Grocerants" — restaurants within grocery stores — are also becoming more prevalent.

Amazon book store in Seattle.
Credit Modern Cities

2) Showrooms like Bonobos, Rent the Runway, BaubleBar and Gap’s Athleta, will continue to emerge, as online retailers find a way to achieve growth through brick and mortar locations. Even online power players like Google and Amazon are jumping on this trend with the opening of bookstores and grocery stores in metro areas.

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MORE | To see the rest of the list, visit "Top 5 Retail Shopping Trends"  from Modern Cities