Retail Businesses Renewed Focus on Customer Proximity

As businesses adapt and evolve, the future of retail belongs to those who get close to their customers.

LAS VEGAS—Post pandemic, the retail landscape underwent a profound transformation. As businesses adapted to the new normal, a notable trend emerged: a renewed focus on proximity to the consumer. This shift, outlined by Ryan Moore, CEO and Co-Founder of Last Mile Investments, propelled retailers and non-traditional businesses alike to reevaluate their strategies, particularly in terms of location.

Gone were the days of traditional retail hubs drawing in crowds solely based on their brand or product offerings. With hybrid work schedules becoming increasingly prevalent, businesses began to recognize the importance of being close not only to where consumers live but also where they work.

This realization, according to Moore, sparked a renaissance in “unanchored”. Situated strategically in suburban locales along bustling thoroughfares, these centers boasted convenience and high visibility, attracting both retailers and consumers alike, Moore tells GlobeSt.com.

The ripple effects of this trend were palpable, as shown by tenant demand, notes Moore. Essential service providers, once relegated to office parks, hospitals, or malls, now found themselves drawn to these suburban hotspots. Urgent cares, physical therapy clinics, and dental practices began to populate the landscape, catering to the needs of the surrounding community in ways previously unexplored, he says.

As Moore observes in their tenant meetings at ICSC Las Vegas, the evolving tenant mix underscored the broader shift in consumer behavior. Consumers craved convenience and accessibility, and for retailers and service providers alike, the key to success lay in meeting these evolving demands head-on.

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