Looking at the evolution of retail is like chasing a moving train. So much is going in and its moving very fast.
Trends like big box shrinkage, food is the new anchor, mixed use, demographic lead by millennial, e-Tail, and the distribution revolution are changing retail.
Retail business pursue relevance and profit in a very fast changing environment. Changes like consumption, commuting, communication effecting retailers in the US now. Consumption is changing as customers are buying differently: Brick and mortar vs. Online, demand for convenient and last mile delivery.
Uniqueness of each area in retail. People want unique and better products and local products. Consumer prefer authenticity and experiences that are local and real. Consumers are tired of national chain and cheap stuff. Food is hot and LA has become the best food market in the country.
Commuting is also changing in LA. People dont want to sit in traffic forever. We have an expanding transit system and ride sharing changing commuting.
Non-emotional goods or commodities type goods are all going online whether grocer or basic goods. Retailers need to adjust to that mentality.
We are shifting from consumption to connections. More people in America do Yoga then play football. That is an example of change.
Type of retail: consumption driven and Distribution driven. Consumption is moving to experiential (entertainment and food) and blended use. Distribution driven is e-dustrial and I-tail with Last mile delivery. Malls may have a role in this and change how the big boxes on malls are being consumed by tenants.
