How retailers conduct business and how consumers shop are dynamic situations. What worked years ago is no longer relevant today. If you are to undertake a retail construction project, you have to keep this in mind if you are to develop a strategy that matches today’s retail environment.
One of the tasks you’ll need to consider is how to elevate the shopping experience while easing off of the age-old motto of having every square foot of space pay for itself. Having retail spaces packed to the rafters doesn’t work these days as consumers want open spaces, not just for social distancing in the face of the pandemic, but also because they have become accustomed to shopping that way. They need to feel safe and comfortable, or they’ll stay home and shop online. Today’s retail construction architects, engineers, and builders are tasked with creating more space in creative ways.
Even before recent events changed the way consumers shop, the shift away from large, impersonal malls had begun. A huge number of malls have already closed, and most that are still around have high vacancy numbers. Clearly online shopping has been a big factor in this shift, but that is not to say that the need to get out into public again couldn’t spur brick-and-mortar shopping once again.
In addition, clearly there are some industries, such as grocery and other consumables, that will always do well with retail stores. Products that are impossible to evaluate online are another example. If you are to be successful with retail construction, you’ll need to design your project with the right tenants in mind and place extra attention on exciting architecture and other features that will spur curiosity.
At Z Construction, LLC, we also know it is critical to make your investment dollars achieve the highest value in a retail construction project. Our policy of utilizing value engineering can go a long way to help you control upfront and operational costs so you can focus on features that entice quality tenants and the public. We do not believe that brick-and-mortar retail will ever go away. In fact, we foresee it growing in popularity again. We can be a part of helping you achieve success with your vision to bring back the excitement of shopping in stores again.