Phillips Edison & Company Reveals Top Shopping Center Trends of 2022 - Seite 2

Big-box retailers such as Petco, Target, Macy’s and Kohl’s, as well as mall-traditional tenants including Bath & Body Works, Visionworks and Pearle Vision, are introducing smaller-format stores in open-air shopping centers to bring them closer to their consumers. Traditionally, these retailers were most often located in power centers and larger malls and the proximity to shoppers was more distant. From these neighborhood centers, they are facilitating easier access for buy-online-pick-up-in-store and last-mile delivery, helping to mitigate some of the pressure stemming from persisting supply chain issues.

On the topic of environmental, social and governance (ESG), which investors and consumers alike continue to emphasize, a growing number of brands of all sizes are reaffirming their commitments to sustainability. Target and Amazon have both introduced sustainable stores that use less energy than they produce, while Walmart is creating a net zero store in Canada. In addition, UPS has announced its commitment to achieve carbon neutrality by 2050, Petco is aiming to increase sustainable pet products by 50 percent by 2025, and Williams-Sonoma has partnered with the Arbor Day Foundation to plant 6 million trees by 2023. The grocery chain Raley’s is also taking innovative steps forward, introducing new technologies and strategies to reduce its carbon footprint, including waste stream reduction, increased recycling and reducing the use of micro-plastics.

PECO also noted that retailers are becoming increasingly creative with their use of technology. Grocery chains H-E-B and Albertson’s have found success generating sales through the use of Facebook’s Live Shopping feature, where consumers can watch a live stream demo on the social media platform and purchase the products being used directly within the video. Moreover, following its acquisition of virtual fitting room platform Zeekit last year, Walmart recently announced that the technology is now available to its shoppers, making online shopping even easier.

“The world has changed so rapidly over the last two years, and yet we’ve continued to see from retailers a level of creativity, innovation and adaptation that further demonstrates their ability to evolve with the times and give consumers more of what they want,” said Ashley Casey, Senior Director of National Accounts at PECO. “One of the areas that will be interesting to watch over the next few years is how retailers integrate Web3 and the metaverse into their omnichannel strategies. We’ve already seen companies like Adidas and Gap introduce NFTs, while Panda Express has filed a trademark for virtual goods, and Forever 21 has opened a virtual store. We are still in the very early days of this next iteration of the internet, and we’re excited to see how retailers make use of the technology.”