Unless you've had your head in the ground for the past couple of decades, it's obvious that retail has been experiencing a disruptive shock to its fundamental business model.
So far this year retailers have announced 77 million square feet of closures, according to CoStar Group, compared with the 105 million square feet that closed up shop for all of last year, either through bankruptcies—as was the case with Bon-Ton Department Stores—or through scaling back and rightsizing space, an option many others took.
But in the midst of this turmoil the retail that is surviving is evolving into something new. Many retailers—such as Levi Strauss & Co.'s Tailor Shop—are embracing the concept of experimental selling.
Retail is also playing an essential role in mixed-use projects throughout the country and, in turn, these developments are helping to boost the retail sector as a whole. As one source in our Annual Retail Review put it: “Consumers demand convenience, and while this does translate into online retailers winning out over brick-and-mortar space in some instances, it also presents an excellent opportunity to incorporate retail into mixed-use communities.”
We also worked closely with experts and researchers from Marcus & Millichap to produce our first-ever Retail Field Guide—a collection of critical factoids, data points and analyses meant to serve as a resource for anyone looking to succeed in today's retail world. Plus, check out the of names we selected to Forum's first-ever list of Retail Influencers—the people and companies that have made, and continue to make, an indelible impact on the business.
If you're headed to ICSC ReCon in Las Vegas this year, be sure to check in with our executive editor Natalie Dolce and other ALM Real Estate Media colleagues who'll be in attendance. Happy Shopping!
IN THIS ISSUE
Building Balance The Secret Sauce to a Solid Retail Strategy
Finance Focus When Fintech Finally Meets Proptech There have been many advances in commercial real estate technology, but few in the lending arena specifically. But lately, there have been hints that this is beginning to change.
Rainmakers 2018 The Best of the Capital Markets The most prolific debt and equity originators in the commercial real estate capital markets
Annual Retail Review Repackaging Retail Traditional malls may have their troubles, but the broader retail sector is thriving, particularly when it comes to mixed-use developments, walkable communities and destination centers
Retail Field Guide Preview Notes from the Front Lines Whether you focus your retail on brick-and-mortar or online, here are insights to help navigate to-day's ever-changing retail world. A sneak peek at Marcus & Millichap's Retail Trends 2018 Field Guide.
Real Estate Forum's Influencers in Retail A look at the people and firms who have made an indelible impact on the retail real estate arena, and continue to do so
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