Specialized retail remains successful
- Average retail market rental rates gradually rise as the Columbia market absorbs non-core shopping center space.
- Specialized brick-and-mortar stores are able to effectively compete with online retailers.
Successful brick-and-mortar grocery concepts
In a world where grocery delivery and dinner box kits are only a click away, how are brick-and-mortar grocery stores succeeding? They are utilizing specialized store concepts in order to thrive. Within the Columbia MSA, from 2016 until present, there have been 10 new grocery stores built, two currently under construction and one proposed to be built. However, these new grocery stores are not guaranteed automatic success; in order to compete they will offer convenient online ordering with in-store pick-up, meal preparation by order and, often, home delivery. Shown below are the prevalent evolving grocery store concepts being developed that cater to specific clientele demands in order to succeed as brick-and-mortar grocery stores in Columbia.
- Lifestyle shops are a one-stop shop; these shopping centers are appealing to consumers who want to make one stop to purchase items necessary for any situation. Lifestyle centers often have a coffee shop, a gas station with automotive necessities, medical services/pharmacy, an apparel section, home decor, a bistro/pizza parlor and a deli offering prepared meals in addition to general grocery needs. Some of the grocers within this category are: Walmart, Costco, Kroger and Publix.
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