Experts predict 2015 reports to show decline in retail construction but that 2016 could be a record year for retail. Kermit Baker, Chief Economist for The American Institute of Architects, believes the retail industry will see “double-digit increases” in 2016. Which four retail trends will separate prosperous retailers from those who remain stagnant? Being green, incorporating nature, engaging creativity, and choosing location wisely could be key efforts in getting ahead in 2016.
While being green isn’t new to the retail world, more consumers not only expect, but appreciate and reward retailers who include green initiatives in their construction efforts. Trends in green measures include considering sustainability in design and construction, designing for limited requirement for air-conditioning and planning for use of highly-efficient lighting, smart parking, green roofs, and water-saving landscapes.
Consumers have many options when it comes to choosing where to shop. Differentiating the shopping experience is one way to attract their attention. One trend expected to attract consumers in 2016 is designing spaces that merge nature into the shopping environment with features like outdoor dining, water features, and unique, lavish landscaping.
Another trend expected to lead retailers to success in 2016 is customization. Rather than trying to recreate the environments of retailers at the head of the pack, the trend is to be creative and turn the uniqueness of each particular environment into something special and exclusive that draws shoppers and their dollars to the shopping area.
Choosing Locations Wisely
Unfortunately, as usual, growth is not expected to blanket the nation equally across all cities. Some cities, including Baltimore, Detroit, Pittsburgh, Philadelphia and St. Louis, will likely continue to struggle while cities with higher household incomes like Austin, Fort Lauderdale, Los Angles, and San Jose will likely be home to many retail success stories in 2016.← Back to all posts