Sometimes it seems as if our current economic and social atmosphere has the same air of uncertainty as depicted in the opening paragraph of Charles Dickens’ “A Tale of Two Cities,” set in the period of the French Revolution: “It was the best of times, it was the worst of times … it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us.” Massive inflation continues to curb the everyday spending habits of the average American. On top of these cutbacks in consumer spending, many urban shopping districts in certain cities have become dangerous because of the increase in crime, and numerous retail destinations have even become vulnerable to protest gatherings that can unfortunately become violent. So what does this mean for the future of retail?
Feel-Good Escapism
Even in the midst of all this craziness, the world will continue to spin, and consumers will continue to spend. My prediction is that the populace will seek out and yearn for escapism with their retail and dining preferences, albeit in a more affordable manner, such as restricting luxury spending to a singular, elegant accessory item. Shopping centers will become bastions of fun, with most retailers and restaurants going above and beyond the usual in-store experience to create wonderful alternate reality-type settings. A retailer that has mastered this is Gentle Monster, the South Korean-based futuristic avant-garde luxury eyewear retailer that opened its largest U.S. store, at 4,800 s.f., in May at The Galleria in Houston. Its in-store layout features museum-like robotic installations such as a nine-foot-tall giant head that stretches itself in various humanlike expressions.
Other fun-filled, yet less costly, experiences will take place in dining, especially with feel-good comfort food sweet treats, such as donuts, ice cream, boba drinks or cookies. This dessert segment continues to have staying power and expect to see more bells and whistles with this type of tenant, especially with over-the-top presentations that can also incorporate alcohol. This is a concept that Sugar Factory has already mastered. Look for fairly new brands in this category to continue to expand their presence nationally, such JoJo’s Shake BAR, a Chicago-based dessert/restaurant concept that opened its first site in 2019, and now has seven locations in four states: Illinois, Michigan, Florida and Arizona. JoJo’s seeks spaces in the 3,400- to 5,000-s.f. range, ideally with an outdoor patio area and a walk-up ordering window, in thriving retail street-front sites in tourist-oriented metros. In addition to offering diner food fare, the JoJo’s menu also includes creatively decadent gourmet shakes that are available in signature concoctions (with or without alcohol) or customized with a choice of toppings, including M&M’s, Oreos or Heath Bar bits. The interiors of JoJo’s restaurants include 1980s and 1990s music and other nostalgic experiential touches, such as arcade games.
A Sense of Security
We may see a rise of security-themed tenants, whether it’s tactical wear retailers such as 5.11 Tactical or sporting goods brands that also sell guns and ammunition such as Bass Pro Shops. The 5.11 Tactical brand, which opened 24 new stores over the last year, appears to be prepping for even more expansion as the company recently announced the hiring of a new CEO, the former executive with Zumiez, who will take the reins in January of 2024.
In addition, Bass Pro Shops will be opening a 140,000-s.f. Outdoor World superstore in Irvine, Calif., a 123,348-s.f. store/restaurant in West Chester Township, Ohio, and a 100,000-s.f. Outdoor World in Tucson, Ariz., next year. Bass Pro Shops is focused on merchandise for all types of outdoor activities and provides fun escapism fantasy settings that Americans are craving, such as through its huge fish aquariums or its realistic large-scale diorama recreations of wildlife animals and nature landscapes.
More shooting range facilities are also opening across the U.S. Although most of the shooting ranges in the U.S. are privately owned mom-and-pop operations, an exception is Midwest Shooting Center. Founded in 2016 and based in Ohio, the founders of Midwest Shooting Center, who happen to be former Anytime Fitness franchisees, began franchising their shooting range concept in early 2023, and now have seven locations in four states: Ohio, Indiana, Michigan and Pennsylvania. The franchise is currently registered to open in 41 states, and Midwest Shooting Center prefers spaces between 10,000 and 35,000 s.f., such as former Bed, Bath & Beyond or Babies R Us sites. Midwest Shooting Center, which provides gun training, competitive shooting, retail sales and gun cleaning/engraving services, aims to debunk any negative stereotypes of shooting ranges by focusing on education in a welcoming environment.
