Developers adjust to shifting retail landscape
The fundamentals of the public’s retail needs aren’t changing: People want fast service and convenient shopping options, and they want them close to home.
But retailers still face a changing landscape. In Michigan, that includes a shrinking economy – by more than 75,000 jobs since 2006, according to a University of Michigan study released late last year.
The fundamentals of the public’s retail needs aren’t changing: People want fast service and convenient shopping options, and they want them close to home.
But retailers still face a changing landscape. In Michigan, that includes a shrinking economy – by more than 75,000 jobs since 2006, according to a University of Michigan study released late last year. And disposable income increased in Michigan by a mere half-percent, according to the same study.
That means that retailers in Oakland County have to confront a still-fussy public that, in many cases, has less money to spend.
So what’s a retailer to do? Today’s strategies include smaller stores, “green” design and more amenities.