Insights

Photo: The Cordish Companies and the City of Norfolk (Virginia) broke ground recently on Waterside District, a redevelopment of the waterfront.

With the explosion of online retail giants like Amazon.com, the new digital economy has turned traditional consumer buying behavior upside down, making your everyday salesperson seemingly obsolete. In fact, according to Invesp, more than 62% of U.S. consumers with Internet access shop online at least once a month and 78% of those shoppers don’t check out a product in-store before buying online.

Online shopping is driving more sales and foot traffic in brick-and-mortar stores than ever before. In fact, Deloitte expects digital interactions will influence 64 cents of every dollar spent in retail stores by the end of 2015 – that’s $2.2 trillion worth of in-store sales that are aided by e-commerce.

Whether it’s a blustery storm that rattles your windows, or an employee who forgot their keys behind the counter, everyone has experienced the initial panic that ensues after accidentally tripping a security system alarm.

Much has been said lately about the proliferation of mobile and online shopping. But brick-and-mortar retail continues to thrive – a fact that tends to get glossed over.

Imagine this scenario: You’ve worked hard to build a profitable business and you’ve done it the right way. You’ve taken every step to control the things you can control about every aspect of your company. You’ve got handbook policies regarding equal employment opportunity and prohibiting discrimination or harassment on any basis, and you have a diverse workforce that evidences your commitment to equal opportunity.

Interior build-outs in the retail sector can be some of the most expensive construction projects, with cost per unit area far exceeding that of an exterior build. They are also often more logistically complex. For example, coordination of all the different trades and the delivery of materials, fixtures, and products is key to ensuring quality, containing costs, and avoiding delays.

Later this year, Target will begin rolling out a key program that will enhance inventory visibility and accuracy in a way that the chain store giant hopes will “work its magic in the background to provide people with a seamless, stress-free shopping experience,” as the announcement from its corporate blog stated back in May.