The Shift to Online Shopping
Can you remember when buying something on Amazon wasn’t an option? Do you recall driving to several stores to find a specific product? E-commerce created a global economy that has become accustomed to ordering nearly anything with the touch of a button.
Online Shopping Changing Commercial Real Estate
The rapid increase in online shopping undoubtedly changed the commercial real estate industry in several ways.
Large-Scale Construction
With large online retailers like Amazon comes the need for expansive facilities to execute their operations. The construction of enormous distribution centers near major cities is necessary to meet shipping demands.
Changing In-Store Environments
Why would you want to drive to a store when you can purchase anything you need from your favorite spot on the couch? To attract customers, different brick-and-mortar retailers are implementing unique ideas, such as providing children’s play spaces that allow parents to shop distraction-free.
Additionally, stores are integrating technology into the shopping experience. Retailers are implementing apps that assist customers in-store and some that even allow shoppers to check out directly through their smartphones to avoid lines.
Smaller Retail Spaces
With the shift toward online shopping, some retailers are struggling to keep large locations open and are pivoting to smaller spaces. Increased efficiency in shipping allows stores to keep less inventory on hand, making downsizing a great and more affordable option for some.
Watching the Market
As with all other aspect of the world, the commercial real estate industry is constantly evolving. If you are considering investing in commercial real estate, working with a professional who is consistently watching your local market and knows today’s trends is essential.
Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 if you have questions about the commercial real estate market in Longmont, CO, and our neighboring communities.
