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Page 2 — Retail Properties Quarterly — May 2017
CONTENTS Letter from the Editor
O ne term used frequently with-
in this issue is omnipresence.
As in, retailers that embrace
an omnipresent format will
succeed and, potentially,
drive the expansion of some online-
only retailers to new brick-and-
mortar locations. Omnipresent
means present in
all places at all
times, according to
Merriam-Webster.
For retailers, it’s
about harnessing
technology while
embracing a physi-
cal presence in
order to make the brand ubiquitous
for consumers.
Online sales growth has more
than doubled in-store sales growth
for the past few years, which means
that despite the fact that online
sales only represents 10 to 12 per-
cent of all sales, its speed of growth
and dominance in certain retail
niches can’t be ignored.
However, as I read the articles in
the issue, I couldn’t help but feel
hopeful that some leveling out may
be coming. The internet has culled,
and will continue to cull, the herd
of cumbersome retailers that can-
not adapt to changing consumer
habits. But those that do may not
need to fear the end is near.
This is where the idea of omni-
present retailers really comes into
play. Those retailers surviving and
thriving in this environment are
the ones that embrace the internet
to offer costumers a better experi-
ence. A company’s website is no
longer just a vehicle to purchase an
item, but also is a place to read peer
reviews, share one’s own opinions,
rate experiences and explore the
brand.
Yes, some people prefer to buy
their clothes strictly online or in
stores. But for other consumers,
shopping reflects a hybrid approach
in which nothing –– browsing, try-
ing on, purchasing or returning – is
specifically relegated to be done in
stores or online. Instead, the two
options complement one another
based on the individual consum-
er’s shopping habits and desires.
Sometimes you want the instant
gratification of walking out with a
purchase in hand; other times, the
convenience of purchasing some-
thing on your laptop from bed at
10 p.m. can’t be beat. The fact is, by
allowing consumers to have more
control over their experiences via
multiple avenues of availability, the
retailer cultivates and, potentially,
retains repeat customers.
As a member of the constantly
analyzed millennial segment, omni-
present retailers make the most
sense to me. So while store foot-
prints may shrink and the distance
between repeat stores may increase,
retailers still will have real estate
needs. And as several authors in
this issue point out, some online-
only retailers are seeing the bene-
fits of physical locations and begin-
ning to embrace a click-to-brick
mentality.
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