Brand-Themed Retail Stores Show Signs of Growth
The COVID-19 pandemic has certainly had an impact on the retail space, with brick and mortar stores taking a hit while online retailing has thrived. However, as we near the end of the economic shutdown, some trends are emerging that paint brick and mortar retail locations in a much more favorable light.
Perhaps most important of these trends is the shift by major online brands to create product-oriented brick and mortar retail locations. Some brands, such as Nike, have operated brand-themed retail locations for years. Now, other online-oriented direct-to-consumer companies like Allbirds, Everland and Wayfair are expanding their offline presence.
Online to Offline Commerce
It’s a trend known as “online to offline commerce”, or O2O. According to the firm Big Commerce, “O2O is a business strategy that’s designed to draw potential online customers to physical stores. The approach also aims to create a seamless digital experience at all stages: before, during, and after the purchase.”
In their recent Retail Trends Whitepaper, Placer.ai explains why this is a growing trend in retail.
“Brands want to own the customer interaction to ensure that the relationship is ongoing. If they create a unique in-store experience, the likelihood of a visitor converting and staying loyal is far higher. Additional value comes from stores’ operational benefits, such as lowering costs of returns and delivery to enable greater overall reach. Strategically placed locations can also enable brands to distribute far more efficiently. Finally, more brands are going offline because it’s working. Looking at weekly visits of top product brands compared to 2019 shows that the top players pushing for owned offline spaces are seeing visits rise significantly. As this pattern continues and these product-oriented brands stay positioned at the top of the offline retail landscape, it becomes apparent that this trend is more than a mere post-COVID bump.” Retail Trends Whitepaper, Placer.ai.
Younger Shoppers Prefer In-Store Shopping
According to Placer.ai, younger audiences prefer the in-store shopping experience, stating it provides a more authentic and direct brand relationship. Well-designed retail spaces also attract visitors to the stores, sometimes from fairly far distances, which also increases the value of the store.
“As more brands come to terms with this reality, expect the focus on experiential retail – especially in the urban environment – to increase, creating more retail diversity in terms of brands and experiences,” states Placer.ai.
The trend is certainly good news for traditional retail locations, such as shopping malls and business districts in communities.
Positioned for Retail Success
Miller’s Landing in Castle Rock, CO, is positioned for success in the retail sector. Our vibrant, pedestrian friendly town center will offer inviting retail spaces supported by restaurants, modern office spaces and multifamily living options.
Castle Rock has the demographics to support a variety of retail locations, from local mom and pop stores to high-end brands. It’s an ideal location to open a brand-specific retail space, thanks to the growing affluent population of Castle Rock and the surrounding communities.
About Miller’s Landing
Miller’s Landing is a new 65-acre multi-use development in Castle Rock, CO. We’re creating a dynamic development that includes a pedestrian-friendly town center complete with prime locations for retail, restaurants and entertainment venues.
Miller’s Landing offers large swaths of open spaces with stunning views of the Colorado Front Range. It also has easy access to downtown and outstanding outdoor recreation opportunities via walking and bicycling paths.
The unique mix of business, entertainment, recreation and housing options at Miller’s Landing make it the top spot to locate a retail store or business in the south Denver area.
About Castle Rock
For those seeking to escape larger urban areas, Castle Rock is an ideal location. Located on the I-25 corridor is the south Denver metropolitan region, Castle Rock offers easy access to nearby Denver to the north and Colorado Springs to the south.
MoneyGeek recently named the town the safest small city in Colorado and one of the safest communities in the country.
Castle Rock offers beautiful sunny weather, outstanding schools, higher education opportunities, an active cultural environment, world-class outdoor recreation and small-town charm. It’s a desirable lifestyle for the well-educated residents who call Castle Rock home.
We’re creating an exciting future at Miller’s Landing. We invite you to join us.