Retail Trends on the Move, Thanks to the Letter “M”
So, we’re a little more than a quarter-way through 2018. So what retail trends have you noticed in your areas? Forbes.com recently picked a few trends to focus on (and coincidentally, and perhaps meaninglessly, they all begin with the letter “M”). Forbes.com contributor Tom McGee, President and CEO of ICSC, cited Mobility (“General Motors recently announced an online system called GM Marketplace that will let users make reservations and purchases from their vehicle dashboards.), Manpower (“Macy’s has invested in hiring stylists to help shoppers put together entire wardrobes, and Walmart is providing courses in advanced retail skills at its Walmart Academy sites.), and Multi-channel, (“retailers such as Target are making a big push to promote click-and-collect shopping.”).
So You THINK You Know Commercial Real Estate Trends?
For the purposes of this article, let’s imagine every town is similar to Wilmington, North Carolina. Certainly, every town has things about it that makes them unique, but generally speaking, they all could take some advice from the Greater Wilmington Business Journal and its recent list of ten commercial real estate trends. For example, topping their list is The Growth of Mixed-use. Also on their list, Redeveloping & Reusing Spaces. But have you considered this suggestion: Picking Smaller Footprints. “Bigger is not better for some retailers these days, brokers and developers say. Some larger shopping center spaces, such as a former Roses department store at Ogden Plaza, are being broken up to accommodate more than one tenant.”
$100M Lifestyle Center Planned for Michigan’s Commerce Township
Five & Main, a $100 million lifestyle center slated to include retail stores and services, restaurants, entertainment venues, upscale apartments, green spaces and more, has gotten the green light from Commerce Township officials in Michigan. As HomeTownLife.com recently reported, Robert B. Aikens & Associates, LLC, of Birmingham is expected to start construction next spring. “Having this development, we’re going to have the facilities and businesses that will attract people to meet together,” said Mark Stacey, Commerce Downtown Development Authority director.