Even though online shopping has grown dramatically in recent years, store-based purchases still dominate the retail landscape. Retail professionals know this; many others are surprised that online purchases still represent just a fraction of retail sales.
According to research giant Nielsen:
“Despite the boom in E-commerce, U.S. consumers do most of their shopping at physical stores. But in order to attract and captivate consumers, shopping centers have become much more than just places to buy things — they’re social centers, places for entertainment, and employment hubs. In its recent Brick by Brick: The State of the Shopping Center report, Nielsen examines the trends affecting the size and shape of the shopping center industry, as well as some of the shifting consumer factors affecting the strategic direction of this powerful retail sector.”
“As the U.S. population has diversified, the lines have blurred between shopping, entertainment, and community. This blending of experiences has created an opportunity for retail to strengthen social ties within communities looking for communal experiences. Lifestyle centers, a newer entrant to the shopping mix, have met this opportunity head on, as they blend traditional retail tenants with upscale leisure uses that offer shoppers a place to buy as well as an experience and a place to gather.”
Click the Nielsen chart to read more.