Benjamin Cien

More and more consumers want dining and entertainment options at retail centers. According to a recent study from ICSC, 50% of US consumers want more dining options and 40% want to see more entertainment and leisure venues and activities. While experiential retail has become a buzzword in the market, this research illustrates that consumers want these concepts.

“The desire for increased and conveniently-located retail services has grown so much so that 78% of US adults would now consider living in a mixed-use setting for a live-work-shop-play lifestyle,” Benjamin Cien, associate partner and studio director at Newman Garrison + Partners, tells GlobeSt.com. “The mixed-use development and community is a really efficient way to attract and please many different members of a community.”

The most successful retailers are quickly adapting to these consumer needs, and retail owners in general will need to transition to more experience-based retail to survive. “For retail centers to thrive, they must address the desires and needs of consumers,” says Cien. “In the last few years, there has been a shift in consumer behavior as it relates to retail center shopping. Consumers are now more attracted to retail centers that offer more activities and services, such as fitness and medical centers, restaurants, etc., than those that offer stores and services that are not conveniently located near others.”