Retail had a tough year in 2023, with about 4,600 stores closing in the US. But even with the rise of e-commerce, in-store shopping is still holding strong—70% of shoppers visit physical stores weekly, and 79% actually prefer it. The growing focus on self-care is driving a surge in wellness retail, with more stores opening in 2023. Looking ahead, 2024 is set to bring more "eatertainment" spots that blend shopping, dining, and fun for the whole family. In this edition of the Inspiration, we’re exploring the latest retail trends and what’s attracting potential tenants! |
We looked into the advice commonly given to brands opening stores and found these key strategies:
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1. Aim for Emotional Impact: Visualise spaces that inspire emotions, after all 95% of decisions are based on gut feelings. |
2. Make it Memorable: Tell a story about the space that sticks; it must have a feature that people can easily refer back to “it was the space with the…X” |
3. Keep it simple: Reduce complexity and be clear. Neutral spaces don’t make it easy for tenants to envision what it could become, it requires extra effort. |
4. Be persuasive: Help potential tenants see how the space will attract their target audience and passersby, into the shop. |