Over the past few years, as the retail industry experienced a significant transformation, a new age of retail has emerged to meet consumers’ shift in shopping preferences. Retail bankruptcies and closures have created new opportunities for shopping centers to reinvent themselves and combine different uses to become one-stop shopping destinations.
Shopping center owners have come to realize that success lies in a diverse tenant mix that offers multiple draws such as grocery, fitness, health, and entertainment concepts. Centers with strong retailers, whether big-box or local, provide customers with greater flexibility, convenience, and ultimately, an unforgettable experience. However, curating the right tenant mix -- one that drives traffic and is resistant to e-commerce is not an easy feat. It requires significant research, market analysis, and a deep understanding of the surrounding demographics.