ATLANTA—In our 2018 prediction series, I expect to see some wild notions, some absolute givens, and everything else in between. In part one of this series, GlobeSt.com caught up with Monetha Cobb, managing director for Retail Services at Franklin Street-Atlanta Office.
“I think you are going to see the evolution of retail continuing to take shape,” Cobb says. “Consumers want to support local business and purchase artisanal goods, but they also want to be able to have items delivered to their homes quickly and affordably and be able to price match and hunt for deals.”
What does that evolution, then, look like? How will the retail world balance this out?
“This means mom and pop shops are having to grapple with technology and adapting the omni-channel approach big retailers are using to be successful,” Cobb argues. “This also creates an opportunity for tech companies to market integrated retail software to these small businesses who need to up their digital game.”
Next question: How does this trickle down to the commercial real estate market? How should commercial real estate firms adjust in the face of this evolving reality?
“I think you'll also see commercial real estate firms, like ours, evolving as well to differentiate themselves amongst the rapidly changing retail landscape and prove their value for clients,” Cobb says. “Retail is transforming so quickly that adaptation is key.”
Cobb's conclusion: Companies who aren't nimble and ready to react to market shifts and new trends won't survive. Franklin Street expanded by 20% company-wide over the past year and launched new business lines to meet the increased demands of landlords and retailers.
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