June 2022 Luncheon: New Trends in Retail Development
Submitted by Ashleigh Mellon, Geo Hydro Engineers
Katie Grissom, Managing Director, Asana Partners delivered an informative and positive message about the Trends in Retail Development at our June 2022 luncheon. Generation Z, the largest generation, is coming into buying power and more broadly, consumer preferences are evolving as a result of the last two years. With convenience at the forefront – mixed use, neighborhood near urban and suburban neighborhoods are becoming more desirable for retailers. New categories focused on convenience are emerging, like Medtail (vets, dentists, primary care). We better understand the halo effect, the impact of opening a new store on the retailer’s sales, and digital marketing costs are pushing retailers to find new avenues to acquire customers. All of these factors point to continued growth in the brick-and-mortar retail space.