The death of the shopping center has long been lamented but a Colliers International report…
There’s the old adage about joining ‘em if you can’t beat ‘em, and in today’s competitive shopping landscape, many big brands are taking that sentiment quite seriously. In fact, omni-channel services continue to factor heavily into companies’ operations plans for 2020 and beyond, and commercial real estate firms and real estate developers are taking notice.
How Does It Work?
In this kind of symbiotic corporate relationship, two brands work together, either by association or directly, to provide more of the goods and services desired by their shared clientele, with the hopes that their complementary clientele will be on board, too. Here are three examples:
- The healthy lifestyle connection between Orangetheory and Hy-Vee: More than 50 Midwest Orangetheory locations planned, and these new fitness centers will be located next to supermarkets that are already open and operating. The alignment of fitness and healthy eating goals for many consumers make this a natural fit. Additional benefits to consumers include the convenience of a one-stop trip for both needs; Orangetheory and Hy-Vee may also reap the benefits of cross-consumer business.
- Expanded UPS services through CVS and Michaels stores: UPS increases its reach (and convenience for customers) with the presence of CVS and Michaels locations nationwide; meanwhile, these retailers attract new and existing customers by expanding their available services. Customers can use these stores with UPS Access Point as pick-up and drop-off location for packages. A cornerstone of UPS’ retail services is its UPS My Choice service; users can sign for packages, track packages, have them forwarded to a different address for pickup, or held while the recipient is away.
- Online shopping powered by brick-and-mortar logistics: Toys ‘R’ Us is back, with the first new physical store opening in Paramus, NJ. But if you shop the famous toy store online, purchases go through Target’s website. The toy store in its fledgling rebirth may be able to hit the ground running this holiday season by piggy-backing on the bigger retailer’s supply chain, while Target (and the customers they serve) are the beneficiaries of online purchases from the relaunched toy store’s website.
Roles of Each Business Partner
The partner with big name recognition can give a boost to the partner with less; while the partner with less may allow the big name company to tap into a new revenue stream from a target demographic. Let’s look at the Toys ‘R’ Us/Target example. Parents of a certain age probably have fond memories of the old toy store. Shopping online at Toys ‘R’ Us allows them to feel that nostalgia while also being confident in their purchases because they’re backed by a known retailer with locations across the country, a major convenience.
How Real Estate Developers Can Help
Commercial real estate firms and civil engineers play a big role in executing companies’ plans for traditional and nontraditional partnerships. By turning to civil engineering firms near you, real estate developers can position themselves to provide the best level of service to corporate retail clients seeking these innovative collaborations with other brands. Contact CenterPoint Integrated Solutions today to get the best of a civil engineering firm and a commercial real estate firm all in one.