It used to be enough for a shopping center to house the lead grocer in a trade area, or at least the closest grocer for the majority of residents. Not so anymore, thanks to the internet and increased competition from additional shopping centers and grocer entries.
That’s why Bob Myers, COO of Phillips Edison & Company, believes landlords and tenants need to do more to differentiate. That starts with emphasizing their value add. Amenities like Kroger Fuel, resources like dedicated parking and apps that provide buy online, pick up in store (BOPIS) services, such as ClickList, and conveniences like electric vehicle (EV) charging stations provide more reasons to keep shoppers on the property and for longer.
These amenities are complemented by service-based tenants like fitness centers, medical uses and fast-casual restaurants, which draw more consumers to centers regularly.
When it comes to offering more savings than your competition, Myers also believes going green is the way to go. That’s because investments in solar programs, LED lights and eco-friendly roofs can save big, and the savings can be passed on to both tenants and shoppers, Myers asserts.
to hear more ways grocery-anchored operators are remaining competitive in today’s marketplace.
This video was created as part of the Retail Insight newsletter by Shopping Center Business, a brief newsletter series leading up to the 2019 ICSC RECon conference and including post-conference video interviews. The videos in the publication are created in conjunction with our content partners, which sponsor the newsletter. Click here to subscribe.