2019 Q1 Retail Charleston Report

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Bricks-and-mortar retail is necessary

Key Takeaways 

  • Bricks-and-mortar shops are necessary to enhance online sales and keep up with customers’ omni-channel shopping preferences.
  • Rental rate for the remaining shop space availabilities rose considerably to $22.13 per square foot this quarter.

Bricks-and-mortar retail is necessary

The general nature of retail has been changing for several years and a new trend bypassing all others is omni-channel retail. Bigcommerce.com generally defines omni-channel retail as multi-channel retailers with both a digital and a physical presence. The recent evolution of retail began several years ago, with Millennials preferring to shop online. Today, retail is evolving further as consumers from all generations are catered to based on their shopping patterns. Omni-channel retailers are successful in their brick-and-mortar shops and their online outlets because they are in tune as their clients’ preferences change. Some consumers prefer to browse products in a store so they are able to touch an item to measure its quality, true sizing or texture. The same consumer may then become a repeat customer through the store’s online channel. Others prefer to have paper goods delivered, yet pick up fresh produce and meat in a grocery store. Still other consumers prefer to order online for curbside pick-up. Whatever the shopping preference may be, bricks-and-mortar stores are a crucial channel contributing to the success of a retailer. 

 

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Charleston retail report

2019 Q1 Retail Charleston Report

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