Looking for New Retail Ideas? Turn to the American Lifestyle
We’re in a different age, a digital age. But ecommerce isn’t the only element of our modern world impacting retail. Changes to the American lifestyle are also affecting how we shop and what we want out of our retail experience.
However, despite all the change, there is one thing that remains the same. No matter how different American life is today, our love of simple options that make our lives easier isn’t going anywhere.
When you bring convenience to the lives of everyday Americans, you will increase your foot traffic and improve the overall health of your retail asset. Here’s a look at some of the logical ways you can optimize your tenant mix to bring convenience to the new American lifestyle.
We Work … A Lot
As a society, we’re working more than ever before. Not only are Mom and Dad working, grandpa and grandma are working as well. That means there is a huge need for child daycare services, which parents try to locate somewhere along the morning commute. But sometimes even that isn’t convenient enough.
When a daycare facility is added to the local retail center, parents can drop kids off, pick up breakfast and drop off the dry cleaning all at the same time! It’s a win-win for parents desperately seeking anything that will save them a minute.
But daycare isn’t the only thing our workaholic lifestyle is bringing to retail. Offices are beginning to pop up in retail locations across the country. Since retail space is located at the heart of high-traffic areas, these offices are often convenient for an employee’s commute. The retail facility also gives employees easy access to all their shopping needs.
We Live in an Experience World
There’s been a lot of talk about the trend away from buying “things” and towards purchasing “experiences,” but this shift isn’t all bad for retail. Many malls have welcomed sports bars, escape rooms and other experience-based businesses to great success.
These additions bring new foot traffic to the center and encourage consumers to take advantage of the other facilities on-hand. As mentioned before, convenience is an American’s best friend. And we, as consumers, cherish the ability to drive to one retail center to buy our groceries, pick up the kids, grab a bite, buy lawn care items – and still catch a movie!
By blending lifestyle with helpful retail options, we are seeing staid retail centers transform into booming family-centric destinations for every day of the week.
We’re Getting Old!
According to a recent Population Reference Bureau report, the number of Americans over 65 will double by 2060. And these aging Americans are eager to be close to the services they need more of and more often, mainly medical and healthcare.
Former bank, restaurant and building spaces (often up to 20,000-30,000 square feet) in shopping centers and strip malls are being taken over by medical facilities. The addition of these medical centers alongside cafés, pharmacies, grocers, restaurants and other such businesses, transforms retail centers into one-stop shops for an increasing number of Americans.
Retail centers that add these medical facilities not only bring a new type of customer, they add a tenant with consumer longevity. As our population continues to age, more and more consumers will be visiting their doctor more and more regularly. And they’ll love being able to get to their appointment and pick up their groceries – all from the same parking spot.
Ready to Leverage the New American Lifestyle?
Tenant mixes based on lifestyle have struck a chord with consumers and the trend will only continue to grow. At TD&A, we dive into the demographics of your local population, curating a mix in your facility that is convenient to their lives.