With more consumers now shopping online instead of in retail stores, operators of brick-and mortar locations are turning their attention to ways in which they can better compete.
During recent earnings calls with analysts, executives at such companies as Gap Inc., Abercrombie & Fitch Co., Target Corp. and Best Buy Co. Inc. spent considerable time talking about multichannel strategies and the reshaping of real estate investment plans. And, not surprising, most also reported double-digit gains in online sales even as their store sales fell, reports Internet Retailer.
“The omnichannel piece is affecting how retailers think about stores, and how developers are thinking about retail centers,” said Abigail Rosenbaum, an economist for CBRE Econometric Advisors.
Market Platform Dynamics CEO Karen Webster recently wrote about the physical retail death spiral. Click here to read more.
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