After a year in which nearly every aspect of the shopping experience has been modifed to adhere to social distancing and other health precautions, retail executives and shopping center operators assert that the crisis is driving a wave of innovation that positions the industry to absorb future shocks.
The Impact of COVID-19 on the
Evolving Use of Retail Real Estate
Specific Safety Actions Implemented
in Response to COVID
Complimentary Hand Sanitizer
Complimentary Masks
Temperature Screening
50%
40%
38%
42%
51%
48%
Retailers
CRE
Safety Measures Continue Into 2021
67%
58%
Click on + to see breakdown by company size
Retailers
CRE
3
#
Truncated
Hours
66%
+
2
#
Constantly Sanitizing High-Traffic Areas
67%
+
Plexiglass Shields
at Checkout
69%
1
#
+
Expected Increase in Click and Collect Will Drive Retailer Actions Over the Next 12 Months
# of online
orders fulfilled at
brick-and-mortar
stores
% of parking lot spaces being used for online order fulfillment
Staffing specifically to accomodate online
order fulfillment
62%
63%
61%
Click and Collect is Expected to
Drive Viability and Success
3
#
Complimentary
Masks
59%
+
2
#
Complimentary
Hand Sanitizer
60%
+
Temperature
Screening
66%
+
CRE
Retailers
77%
71%
Strongly agree online order fulfillment will be essential to ensuring physical stores remain financially viable
Strongly agree online order fulfillment will be
the main drivers of foot traffic post-COVID
85%
67%
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Expectation of Sales Metrics to Increase
within 6 months
within 6-12 months
within 12-24 months
24+ months
CRE Sales
Per Sq Ft
Retailer
In-Store Sales
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82%
63%
62%
60%
63%
77%
74%
89%
Small Retailers
Large Retailers
constantly sanitzing high-traffic areas and
line management outside store front
temperature screening
Large Retailers
Small Retailers
complimentary masks
66%
self-checkout
56%
Large Retailers
Small Retailers
complimentary hand sanitizer
56%
complimentary hand sanitizer
and
plexiglass shields at checkout
55%
Large CRE
Small CRE
constantly sanitizing
high-traffic areas
76%
plexiglass shields at checkout
79%
Large CRE
Small CRE
complimentary gloves
67%
truncated hours
76%
Large CRE
Small CRE
temperature screening
63%
Signs/flyers, etc. to promote
good safety practices
69%
Regardless of how long it takes sales metrics to return to pre-COVID levels, both Retail and CRE are optimistic that in-store sales/sales per square foot will increase over the next 24 months.
Changes have been made to enhance the online shopping experience for consumers while also allowing for sales to continue amidst mandated closures and ongoing safety concerns.
Though safety regulations vary widely by location and retailer, coronavirus-related precautions have become standard industry procedure.
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