A new kind of retail experience
As the retail sector has come under threat from seismic shifts such as e-commerce, retail property investors have looked toward trends such as “experiential retail” to drive growth.
Marcus & Millichap, in its 2019 Retail Investment Forecast, notes, “Modern retail concepts will benefit as consumer preferences evolve; consumers continually seek memorable experiences over traditional shopping and dining outings.” The report predicts retail owners will redevelop properties to convert them into entertainment hubs.
But what is experiential retail? A new retail research report from JLL takes a closer look at new trends in the segment. Beyond movie theaters, fitness centers and restaurants, there is a new cohort of retail experiences that combine games and activities with food and drinks.
JLL identifies six leisure concepts: competitive socializing (single-game activities such as axe throwing or miniature golf); beercade (combining craft be