Nearly all companies along this retail spectrum will need to follow transformation trends to remain relevant. If a retail store is selling high-end products, providing a greater focus on services is critical for in-store and online sales. Stores that have sold mass-market products will continue to find tremendous competition through online retail.

Lastly, lower-end stores, such as TJ Maxx, will attract shoppers to its physical stores without much extra effort. In the short term, this purchase channel for lower-end stores will have a significant advantage over competitors when factoring recent bankruptcies in the retail sector. Also a considerable decrease in shopping over the last quarter, which has drastically increased supply. That will allow lower-end stores to sell sharply discounted products that will draw people into its stores.

In the long-term, all retail landlords will need to switch from being passive rent collectors to retail partners. That means becoming an actively managed shopping center that will enhance the customer experience.

Fitch Ratings recommended ambiance and convenient transport links to improve the customer experience. Having a variety of retailers and leisure activities will also draw families to malls, as would trending "pop-up" stores. These steps will attract customers eager for experiences not available on their computer screens.

Without these transformative moves, retail landlords could face a hit to their bottom line. Changes in retailers' cost-based plans and physical-space requirements must be analyzed. Fitch Ratings has found lease durations are becoming shorter as landlords have accepted their need for flexibility to change the retail mix profitably continue.

By making these re-engineering changes, key stores will no longer serve as a purely click-and-collect venue in the long-term. Instead, when customers come to pick up their purchases, they will purchase additional products in person due to the unique customer experience.