Quartz Research did a study comparing data from Starbucks and Zillow to see if there was a correlation. Sure enough, homes within 1/4 mile of a Starbucks showed a drastic increase in value when compared to home value listed on Zillow — an increase of 65 percent, in fact.
Omnichannel promises to combine the metrics from physical and digital channels, allowing retailers to deliver a seamless shopping experience. But in reality, because most retailers have systems focused on singular metrics, many of these in silos, just adding a blend of online and offline will mean opportunities are sure to be missed.
Don’t listen to those championing the death of retail. There's never been a more exciting time to be in brick-and-mortar. Despite the emergence of online retail, real-world locations have proven to be a powerful sales and marketing tool. Even as e-commerce grows, consumers still choose to shop in physical stores, preferring to “see, touch, feel and try out items.”
The commercial real estate industry is accustomed to its share of hyperbolic headlines, but amidst all the “retail-is-dead” noise, one thing is certain -- there is more open retail space than usual right now, both in shopping centers and in urban environments.
Of the many disruptions affecting the state of the retail industry today, the one you should be paying attention to most comes in human form. Winning brands are pragmatic in their approach to not only market to, but also become integrated with, Gen Z– the next generation that now succeeds Millennials. You might think this market segment of young teenagers may not be worthy of ad dollars spent on getting their attention, but think again. Gen Z are digital natives who have fostered a strong entrepreneurial spirit. Forward-thinking companies work with Gen Z in order to make business decisions, together. Here are three principles to note: