06-15-2001 - Laserfiche WebLink

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--, . ,, • A ticipate Evolution What worked in the past may not work in the future. Although end-to-end shopping centers have become the norm along many suburban arterials, no one seriously believes that this format represents the most convenient, liv- able, or efficient long-term arrangement. What then should the evolving pattern of strip development look like in the coming decades? The retail environment is changing rapidly as it looks for ways to stand out in a crowded marketplace and meet the expectations of increasingly sophisticated and jaded consumers. Intense competition from new shopping destinations and the threat posed by nonstore shopping alternatives have retailers constantly looking for new formats, innovative combinations of stores and entertainment, mixed uses, and unusual retail environ- . 4 4111 - . _ i ments and experiences. Increasingly, -4'• ` ` ,� i6 retail development is reconnecting . j . V, " with the larger community around it, kB s " 4 , becoming integrated into a total desti- "' i / ,,; nation where people can participate _ t, .� even when they are not shopping. ` 4, 1-0,,. •• i :4 9 ''''4104/'"'"1 . These fundamental chanes are being °a >' driven by market demographics that . •` ` are evolving as rapidly as the retail environment. The population is aging. At the same time, younger people -‹ f m; remain single longer, or many choose ,, ,. a single lifestyle or single parenthood. ' ,, , Those who marry tend to choose a two-career and two-income standard of " living. And increased immigration, with - tYmany new people from diverse cultural backgrounds, is resulting in more cos- k mopolitan expectations. In response to Z this demographic sea change, retailing can be expected to take on a new face 00 in place of the freestanding retail strips that were designed for a differ- ent time and a different consumer. i . 1 x The new face of retailing will not & ,t appear overnight. However, as land 8 = values, densities, and congestion 4