therapy
Many are calling this the retail apocalypse. Recent reports estimated over 8,600 retail locations shut down in 2017. In April, Subway, a fast food company with the most locations in the world, announced it would be shutting roughly around 500 of those stores in the United States. Brick-and-mortar retailers across the United States have been forced to reduce their footprint to maintain profitability in recent years. In the most extreme cases, several well-known brands have had no choice but go out of business entirely. Since the beginning of 2017, major companies, including RadioShack, Payless Shoe Store, Toys “R” Us, and Bon-Ton have filed for bankruptcy protection.
Evolution
At Life, we see this as retail evolution. More and more, people have become more accustom to shopping online; having left many spaces vacant. We will apply a few simple things to help retail thrive at Life.
Our shops will
Create a Dynamic Experience: By bringing technology, and convenience into the store experience that only brick-and-mortar retail can deliver.
Specialty & Niche stores: These stores will have an advantage like less competition, which means it will be likely to succeed; the ability to gain a reputation due to the uniqueness of the store front, which allows for simpler marketing, making it much easier to attract a crowd.
Convenience: Having the ability to shop in the store without waiting to checkout or having your goods delivered right to your door the same day.