Changes in shopping trends has The Washington Post asking, “Can supermarkets save dying suburban malls?” JLL Atlanta Managing Director Margaret Caldwell helps answer that question in the March 10th article, asserting, “Losing a mall anchor and replacing it with a grocery store adds a ton of value to a mall.”
The article notes how department stores historically anchored suburban malls, but now that they are closing, there is opportunity for the grocery market to appeal to the millennial customer who prefers the efficiency of one-stop shopping. Grocery stores bring the essential items to mall shopping rather than just impulse buying. To that end, Caldwell remarks, “Some of these malls, the anchors aren’t generating a lot of foot traffic. If you put a grocer in there, people will be there doing their weekly grocery shopping versus shopping once a month at Macy’s.”
The annual 2017 JLL Grocer Tracker reported grocers focusing on investing in convenience in response to the millennial shopper and new services available to them such as meal kit delivery programs like Blue Apron. JLL research predicts more intersection of food and technology via mobile ordering services to enhance check out convenience as well as product recommendations and wine pairings for shoppers.
Margaret Caldwell is a leader of JLL’s retail investment sales platform nationally. She is also a member of the International Council of Shopping Centers and Urban Land Institute where she serves on a council.
Read the full story here: https://www.washingtonpost.com/business/capitalbusiness/can-supermarkets-save-dying-suburban-malls/2017/03/10/290b522e-0436-11e7-b9fa-ed727b644a0b_story.html?utm_term=.901641d0438d