anyone remember Joseph Schumpeter… “creative destruction” … He wrote, how all retail strategies are destined to fail as innovation and technology change their industry. That was way back in 1942, in case you have not studied his works.
Today, we have too much retail space with more coming. We have MISSION shopping replacing LEISURE shopping. We have web driven research of products, services, stores growing, testimonials and reviews, all being spread by the second.
By 2020 20% of sales of non-food will be on-line.
Dollars per square foot will be the KEY MEASUREMENT
Retail Stores will be hard pressed to downsize. Store differentiation needs to grow, the value proposition, not just price, price price.