It’s Not Business as Usual for Retail

While you thought e-commerce and the pandemic might signal the end of retail, it’s alive and well, says Tom McGee, president and CEO of ICSC. Thanks to tech innovations, changes to physical store layouts, and a shift to service customers’ last mile of delivery, retail has been reborn. Further, a look beyond the shopping malls of yesterday will show that essential retailers and experience-oriented service providers have transformed commercial real estate hubs into modern centers of community life.

Topics include:

1:46 - ICSC's historic roots, current focus 3:14 - Convergence in retail real estate service communities 6:42 - Shift to service, experience trends in retail properties 9:05 - Advice to retail entrepreneurs 11:40 - E-commerce, technology impacts on store layouts 15:39 - Increase in leasing demand 18:13 - Benefits of stores as last mile of delivery 23:49 - Growth opportunities across the U.S. 25:20 - Retail’s potential in the modern marketplace

Resources:

Learn whether buying an existing business may be right for you: www.paychex.com/articles/startup/pros-and-cons-of-buying-a-business. Concerned how to protect your commercial property from unexpected impacts? Read our article, Should I Have Commercial Property Insurance? at  www.paychex.com/articles/employee-benefits/what-is-commercial-property-insurance.

Read our Top Small Business Trends to Know for 2021 at www.paychex.com/articles/management/small-business-trends.

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