Retail is not dead. Retail is changing in a big way and is by doing so reflecting how our society has evolved as a whole. We no longer go shopping just to buy things but to have an experience. As architects and developers we must understand the dynamics behind these changes.
Experience.
Retail is becoming more about the experience, i.e. the discovery, interaction and engagement with an environment, place and/or people, and less about the consumption of material goods. Authenticity and branding have become very important in the experience of going to a mall or down main street. It is the sole difference between those stores that are staying open and are thiriving and those that are closing their doors.
How can we as architects and developers, brands and real estate players stay in tune with these changes and plan for the best possible outcomes in retail development, branding and operations. What are your thoughts on the future of retail?