Amid the hordes of Amazon delivery vans, old-fashioned supermarkets may be the best hope for shopping centers' survival.
more than 125 stores at the beginning of 2020, citing too many locations in underperforming malls. Nordstrom and Bed Bath & Beyond also announced widespread closures.
“The result has been a rise in other tenant types that could have a waterfall effect, driving even more mall tenant diversity and new opportunities for less traditional mall tenants,” said Ethan Chernofsky, Placer.ai’s vice president of marketing. “While they are still not an indoor mall staple, there is ample reason to believe that their role within this segment will increase.”
But grocery stores have been a growing U.S. consumer segment over the last few years. Except for so-called value outlets and “dollar” stores, grocers have had the most store openings, outpacing home improvement, electronics and superstores, according to an analysis of store openings between 2019 and 2021 from Green Street. The firm’s research shows adding a grocer can boost traffic by upwards of 20% at a shopping center.
Much of that growth was driven by the widespread adoption of in-store pickups for online orders, which helped cement the relevancy of brick-and-mortar stores, Arft said.
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