Store openings are outpacing store closures, says Anjee Solanki, U.S. national director of retail for Colliers, a firm that manages a portfolio of over 2 billion square feet of retail establishments in the United States.
Learn more from Solanki about creating memorable retail experiences by activating the senses.
Solanki joins the latest episode of Retail Gets Real to discuss how consumer-facing technology and experiential retail are defining how retailers are testing store functionality and using retail space strategically to enhance experiences.
“Not only are new store openings outpacing store closures, we're seeing new formats — formats that are highly digitized, smaller in footprint,” Solanki says. “We're starting to see rent collections bounce back … . I’m still extremely bullish when it comes to retail, and I'm excited to say that as an organization here at Colliers, we're also quite bullish.”
Solanki says non-traditional retail such as wellness centers or new pet store concepts are changing the traditional retail space and inviting customers in, while experiential retailing concepts are maturing. Retail that sparks the five senses — touch, hearing, sight, taste and smell — creates a memorable moment and connection that Solanki describes as the sixth sense of a retail experience.
Tune into this episode to learn more about the retail landscape, the future of the store and what trends are here to stay.
Related content
