I hear today from many people about the death of retailing and the effect of discount retail stores such as Walmart & Target and Costco, as well as Amazon and everything from drone delivery to same day shipping that makes retailing a dying concept, nothing can be further from the truth. What we see today at Main Street Property Services is a more clear picture between reselling and retailing.
Reselling benefits from improved logistics, the efficient moving of goods and services, the internet and technologies mentioned here have a significant impact on reselling. However, retailing is a different concept and the history of retailing goes back to the tailor who would retail your suit for you, retailers are an added value proposition taking and merging services, education and experience with products. These products are today positioned completely differently, the point of difference is so significant that there is now a great vantage point that it allows a neighborhood bookstore to thrive adjacent the internet and all of its efficiencies. The Children’s toy store vs Target and Walmart’s toy selections, the toy store benefitting from customer service, birthday party rooms and creating an experience for the customer that makes the toy store experience part of their routine and rituals that the consumer can’t replace online.
Human beings are social animals, we thrive on the time, traditions of the marketplace. Some of the celebrations and best times of the year are built around the trading of goods and services after creating the rituals and experiences that are celebrated today.
After almost forty years in the retail shopping center business the transparency between these two opportunities has never been more clear. We see our projects thriving by creating a place where the community wants to spend time. Our projects are successful when the members of the community bring their guests from out of town to our streets, town squares and retail centers, sharing their favorite place with their friends and loved ones. Our retailers and restaurants benefit by participating in the community’s favorite place, where people want to spend time will ultimately spend their money as well. These customers often frequent our projects on a daily basis as part of their living experience and routine in their lives. Caring and curating the tenant mix becomes a great responsibility.