INSIDE
O
ur consumer-driven retail envi-
ronment is changing with the
dynamics of generational shifts
and e-commerce. Consumers
are cost conscious and look-
ing for new shopping experiences.
Those of us active in retail real estate
– and all of us as consumers in our
day-to-day travels – see landlords
and developers being bombarded by
restaurants, which leads many to ask,
“Where are the real retailers to fill my
projects?Where are the stores selling
widgets? The shops offering goods?
The anchor stores?”
These questions
are not repeated
when it comes to
restaurants. There
are so many food
options popping
up in Colorado and
across the nation
that there is not
enough space for
the demand. But
where are the true
retailers?
The retailers still
are sorting out how
to compete with the likes of Ebay
and Amazon, and now are compet-
ing with each other on their own
individual websites as well.We all get
bombarded with emails daily with the
greatest sale opportunities and, more
often than not, we all go to theWeb to
read up on new purchases, especially
on big-ticket items. This phenom-
enon is becoming more prevalent
as generations X andY and the mil-
lennials make up a larger part of the
consumer base. Shoppers are so well
equipped with smartphones, tablets
and laptops, operating onWi-Fi that
there isn’t a need to walk into stores,
nor do many want to. These texting-
since-they-were-teens consumers are
well trained to shop online and may
have never seen the brick-and-mortar
stores from which they buy.
Yet while some consumers never
leave their couch, many consumers
still want the instant gratification of
taking home a product the day they
decide to buy it. Brick and mortar is
not going away, but what is happening
is retail stores are becoming ware-
Target is testing Target Express, a neighborhood quick-stop store for daily needs in urban environments as a potential source of added revenue.
Michael J.
DePalma
Vice president,
SullivanHayes
Brokerage, Boulder
