The retail industry is changing both from the inside, such as its operations and related use of technology, and the outside as well. The latter has become just as innovative as the former with new formats and new entertainment and art as well.
Right now, drive thrus, quick service restaurants, and grocers are the driving force in the industry, Matt Hammond, Partner and Senior Vice President at Coreland Companies, tells GlobeSt.com.
"Retailers actively testing smaller format stores and store-within-a-store concepts are among the most recent interesting trends," he says. "Ulta and Sephora are opening small format sites at Target and Kohls, respectively, and Macy's recently launched an "off mall" small store format, Market by Macy's." These have captured consumer attention as well as other retailers. "This flexibility allows retailers to shrink their traditional product inventory on the sales floor while keeping the experience fresh for customers, Hammond explains.
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