Love shopping from your couch? Have a weakness for free-delivery? You’re not alone. Every year, millions of Americans are spending billions of dollars online.
Online shopping is king, leaving traditional brick-and-mortar retailers to restrategize.
“This is an industry that is — that is in the midst of a renaissance,” said Tom McGee, ICSC President & CEO.
As our shopping shifts online, retailers are perfecting the customer’s in-store experience.
And some even call it home. Mixed-used developments include residential properties alongside shops, entertainment and office space, making them a popular choice for millennials and empty-nest baby boomers.
“Three quarters of Americans if given the option would love to be able to live work and play and shop all in one location,” said McGee.
Digitally-native retailers are realizing, bricks can drive clicks.
“When a retailer opened up a store in that geographic area the web traffic on their site went up 37 percent,” said McGee.
Retailers like Target and Walmart are cashing in on their real estate, offering buy online — pickup in store options that add convenience and present a lucrative opportunity for the store.
“67-percent of the time when a consumer goes and pick something up in a store that they bought online they buy something else,” said McGee.
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