This category accounted for the most global retail activity in 2017…
It’s not just your imagination. Coffee shops are popping up everywhere.
The coffee and restaurant category accounted for 25% of overall global retail expansion in 2017, up from 16% in 2016, according to a new report from CBRE. The growth of the category has been driven by the evolution of consumer shopping habits that are increasingly blurring the lines between retail and leisure, the report noted. Food and beverage retailers are taking advantage of the shift, positioning themselves as destination-worthy venues in the overall retail landscape.
The “How Global is the Business of Retail” report analyzed 47 countries and 123 cities globally to gauge the pulse of the overall global retail landscape and identify the sectors and markets that that came out on top 2017. It found that while retail continues to grow, it is doing so at a slower pace.
“Through our analysis of 334 global retailers, we found that expansion activity increased only marginally by 0.4% year-over-year,” CBRE stated. “This can, in large part, be attributed to economic shifts and new technologies, resulting in caution amongst retailer to not over-expand. These changes are forcing retailers to rethink their portfolios, prioritizing omnichannel strategies that connect front-end brick-and-mortar with back-end distribution with technology at the core. However, research found that retailers see the physical store footprint as fundamental to their overall growth strategies.”
In other report highlights:
• Dubai tops the ranks for international retailer penetration with 62% of retailers surveyed having a presence in the city. Dubai is set to see retail space increase by 50% during the next three years.
• Hong Kong, the United Arab Emirates and the United Kingdom took the top three spots in 2017 with the most new retail entrants.
• New York was the top U.S. destination for global brands in 2017, followed by Miami, Philadelphia, San Francisco and San Diego. London is retailers’ favorite city in Europe for international expansion.
• New entrant activity has been largely focused on Europe and Asia, primarily driven by home-grown brands who are capitalizing on opportunities within their own region. Overall expansion into Asia increased by 8% last year, largely due to increased focus on Asia by retailers from the Americas.
For the full CBRE report, click here.
Lands’ End unveils new store
Customers can shop offline and online at Lands’ End’s new store format.
The specialty apparel retailer opened a 5,000-sq.-ft. store at Burlington Mall, Burlington, Mass., giving it a total of 13 standalone U.S. locations. (Previously, Lands’ End occupied space within the former Sears store located in the same mall.).
It is the second of four to six stores that Lands’ End plans to open in 2018, and follows the opening of a store in Kildeer, Ill.
The Burlington store features a dedicated digital shopping area with a touchscreen that makes it easy for customers to shop the entire assortment online. Customers can interact with the Lands’ End brand via catalogs and a phone connected to the company’s call center, computers, a touchscreen kiosk, and sales associates available to answer any questions. Lands’ End offers free shipping and free returns for all orders placed from the store.
“Since 2006, we’ve attracted many loyal and engaged customers in the Burlington area and we’re eager to bring them a whole new Lands’ End experience,” said Jerome Griffith, CEO and president, Lands’ End. “Within the new store, we are excited to be launching new digital technology that will make it even easier to shop the brand that they have come to love.”
The store design features Lands’ End signature colors, true navy and white, which provide a classic backdrop to the modern shopping experience. The layout features “rooms” that separate and define clothing categories, making for a more intimate shopping experience in the large space. Visual displays feature Lands’ End’s seasonal, iconic items and tell the product’s history and features.
Online eyewear brand eyebobs jumping into physical retail
A Minneapolis-based online eyewear brand known for its fashion-forward stylings and irreverent attitude is expanding into brick-and-mortar.
Eyebobs will open its first retail store on May 19, at Mall of America, Bloomington, Minn. The 868-sq.-ft. space will feature the brand’s signature eyebrow aesthetic and combine edgy design elements with splashes of yellow and twists on some of the world’s most iconic works of art.
The store will showcase the company’s full collection, including prescription frames, as well as grab-and-go options like readers and sunglasses, in distinctive — and sometimes daring — shapes, sizes and color options. Employees will provide customers with personal styling assistance to help them select the frame that best suits their personality.
Founded in 2001, eyebobs gained a cult following online for its boldly designed reading glasses. The company expanded into prescription eyewear in fall 2017.
“With plans for three-year revenue growth of over 30% at the conclusion of this year, now is the perfect time for eyebobs to disrupt the traditional brick-and-mortar eyewear experience,” said Mike Hollenstein, CEO. “Retail gives us the opportunity to bring our one-of-a-kind customer service experience to a whole new audience.”
Eyebobs first tested brick and mortar in October of 2017, when it opened a retail “lab” at its headquarters in Minneapolis. The success of the space provided the company with the momentum to move forward with brick-and-mortar. Eyebobs’ will open a store at Florida Mall, Orlando, Fla., in late summer. It will feature a similar design concept to the one at Mall of America.