We asked: What changes do you see in customers’ shopping patterns, and how are you dealing with that?
Steven Levin, Founder/CEO — Centennial Real Estate
Shopping used to be a major form of entertainment in America. Today, however, there are two significant shifts impacting the way people shop. First, people are starting their shopping journey earlier. They are digitally engaging before they even step foot in a store, making the act of shopping itself more focused and purposeful. This is something that it took the retail industry a while to embrace, though it has become clear now that e-commerce won’t survive without a physical presence. The fact is, you have to meet the customer where they want to shop, whether that’s online, in person, or a hybrid of the two options that allows them to pick up curbside or even have their merchandise delivered from their local mall on the same day, something which Centennial has been adept at providing through its innovative Shop Now! program.
The second shift is experiential. People come to the mall for an experience, not just for shopping, though they certainly will shop once they are there. They come for brunch. They come for yoga. They come for things like beautiful art, live music or entertainment. And when they do decide to shop while there, they want a very personal experience, which includes hospitality-based customer service within the retail environment and ever-changing inventories that give them a sense of discovery when they find something new and different.
Gavin Farnam, President, Retail Services — Madison Marquette
I think we are starting to see the shopper back in centers in a big way. Madison Marquette predominantly works in mixed-use retail/outdoor center space, so the main goal is to provide convenience and comfort for our customers. The omnichannel consumer today wants options to choose how they shop and expects online and brick-and-mortar shopping to complement each other. We are supporting our retailers to provide ongoing convenience services adopted during the pandemic, like curbside pickup and BOPIS (Buy Online, Pickup In Store), while also providing a clean and safe space for customers to return to experiential in-store shopping, services and entertainment. Additionally, we are focused on energizing and activating outdoor space and common areas to engage the local community and provide a safe environment for our customers to gather and socialize.
