What we are seeing –
With ongoing lockdowns keeping people out of shopping malls, consumer traffic continues to shift towards ecommerce. With this digital growth, retailers are becoming more invested in the logistical operations and cost efficiency of their online sales, focusing less on their physical environments. We see a need for property developers to reconsider their relationships, evolving from landlord to partner, while developing solutions that will benefit the collective.
Oxford Properties is a good example of this, having recently announced a new same-day delivery program. The service, ShipNow, will offer retailers fulfillment of in-store, online, and phone orders from the store to the local trade area — providing retailers with fulfillment strategies to transact online sales as well as allowing them to place local inventory into the e-commerce space to get orders delivered to shoppers with same-day delivery. As property managers re-evaluate their revenue models and focus on added services, this could be a new age of landlord-tenant collaboration rather than combative relationships.