Retail real estate is changing…slowly, yes, but perhaps finally and forever!
In the retail world of Commercial Real Estate, what was big and fat is now being honed down in size, shape, color and message.
For most of my career retail centers, gerenally speaking, all looked the same. All shopping malls have been essentially the same and all open air centers were all the same. Town centers…same! Strip centers…yep, same! With few exceptions, there existed little or differentiation in the marketing or the appeal. With the exception of Outlets and higher end centers, retail has been essentiall the same, tame and lame story.
Design is free when you get to scale. The riskiest thing you can do now is be safe…safe is risky. — Seth Godin
One of the most important ingredients in retail today is the ability of a location to “stand out” as a unique place that delivers a constant stream of products that are remarkable and irresistible to “unique” people and groups. Emphasis on “REMARKABLE” and emphasis on “UNIQUE.”
Listen to Seth Godin from TED on the topic of standing out.