Grocery Dive’s Post

5 years ago this week Lowe's Companies, Inc. announced that it would close 20 of its U.S. Big Box retail stores. Although these closures represented just 1% of the 1700+ Lowe’s U.S. store base, it was a rare mass store closure for the home improvement retailer. But while the Lowe’s store closures dumped over 2.5 million square feet of #retailrealestate into the market, the space did not sit vacant for long. Virtually all sites have been re-tenanted - but not with competitors like The Home Depot, Menards, 84 Lumber or ACE Hardware. In fact very few of the former Lowe's even have a #retail use. Instead many former #lowes have been the subject of unique and creative #adaptivereuse retrofits. And are now utilized by the College of Lake County, CubeSmart, Unique Classic Cars, Goodwill Industries of Southeastern Louisiana, and parx casino, among others.

From opening new stores to enhancing existing stores with projects ranging from full remodels to adding Ulta Beauty in-store shops, upgrading fixtures, supporting same-day services and more. Here we go!! #target #worksomewhereyoulove

Party City debuts new store format, plans to accelerate remodels. #retailrealestate #retail #retailtrends #retailsector #thegoldsteingroup #njrealestate #newjerseyrealestate https://lnkd.in/edYp2kMm

Grocery Dive reporters Catherine Douglas M. and Sam Silverstein recently visited a Walmart supercenter in Germantown, Maryland, that was remodeled last summer to examine the improvements and see what the retailer might have in store for future remodels. Walmart is ramping up its store renovations, which include adding products and modernizing layouts, at a time when discounters and mass retailers have been taking grocery market share from traditional supermarket operators. The company is engaged in a large-scale program to refresh hundreds of its locations around the U.S., part of a push by the mass retailer to modernize the overall shopping experience and reinforce its leading role in the grocery sector. John David Rainey, Walmart’s CFO, told investors in February that the retailer will work on 650 remodels in the U.S. during fiscal year 2025, adding to the nearly 700 remodels it completed last year. Walmart already commands roughly a quarter of the U.S. grocery market grocery and continues to report market share growth each quarter.

https://lnkd.in/gmsnhDjm As a key player in the commercial construction industry, we’re always looking at trends in the business. The article attached was quite interesting in how it discusses the demand for retail space versus the amount available in the US. It points out that despite the “rising incidence of bankruptcies”, new retail store openings are actually outpacing store closings. While new commercial construction is down due to rising interest rates and construction costs, many retailers are turning to the abandoned box locations left by companies like Bed Bath & Beyond and Tuesday Morning. Discount chains and variety stores are leading the way and are aggressively snapping up these spaces. If you’re considering a similar move, look to Bluestone Partners to help with your design and construction needs. We’ve got 20 years’ experience in this space and are ready to make your next project happen.

When Walmart makes such a change it is significant. I was at one of these revamped stores this weekend and it was different. I bet they have and are collecting tons of data to run Test & Learns. Considering the forces of inflation, it will be interesting to see how this tactic affects the market basket purchases of their various segments. Based on just one visit and no real data, I did get the feeling that Target is a target. I did notice that self checkout is the primary checkout option with very few "manned" checkouts. It will be interesting to see how this resonates with shoppers....especially those with 50+ items in their cart.

Wawa, Inc., a convenience store chain, has remodeled one of its locations in Philadelphia, turning it into a shelfless store. The renovation took SIX DAYS (woah!) and the store reopened on July 26, 2023. The new format aims to provide customers with faster order processing and is part of Wawa's continuous efforts to test different store formats for increased #convenience. The shelfless store concept represents a shift in the traditional #cashierless model that has become popular in the industry. Despite closing some Philadelphia stores due to crime concerns, Wawa is looking to explore innovative store formats to enhance customer experience. The company has not yet revealed its future plans for additional shelfless locations. The remodeled store was originally opened in 2018 as Wawa's largest urban design prototype in Philadelphia. #cstore #retailinnovation #retailindustry #wawasandwiches https://lnkd.in/eH-AMCn7

There’s a huge shift happening in how manufacturers are filling store fixture orders … If you’re a retailer accustomed to having retail fixtures shipped directly to your store sites, that may no longer be practical, or even possible. According to retail fixtures expert Phillip Vines, Director of Business Development for Store Opening Solutions, “A lot of retailers are going to encounter challenges they never expected to deal with.” Examples of those challenges include: 👉Dealing with unfamiliar project take-off tasks 👉Finding a reliable option for warehousing fixtures (including extra inventory) 👉Figuring out a way to pick, pack, and re-palletize fixtures for specific store projects So what’s the solution to these and related challenges? It’s called retail fixture consolidation. This service involves a consolidator receiving and warehousing the furniture, fixtures, and equipment (FFE) that a retailer needs for new store openings and remodels. The consolidator also inspects, organizes, re-palletizes, and ships FFE to specific store sites precisely when they’re needed. Retailers have been gaining advantages with fixture consolidation for years, including minimizing points of contact, reducing shipping risks and overhead, and gaining better project visibility. But this service may be more important than ever given the dramatic changes in how fixture manufacturers are filling orders. If you foresee needing fixtures for upcoming store openings or remodels, this blog post is a MUST-READ! https://ow.ly/1QQX50PT0CM

Amidst the vast expanse of Fourways Mall, the landscape reveals a story of challenges and transformation. Over 120 of the 450 stores stand vacant, casting a shadow on the once bustling shopping destination. Empty wings, unopened 'soon-to-be' stores, and a large amount of vacant spaces mark the aftermath of the mall's major redevelopment in 2019. A striking 50 empty shops line the link between Woolworths and Toys R Us, creating a notable void in the once vibrant corridor. The challenge extends beyond tenant mix; leaky ceilings during thunderstorms and a need for additional family-focused restaurants paint a broader picture. The mall's lucrative catchment area calls for a thoughtful approach to reinvigorate its appeal. New managing agents, Flanagan and Gerard, step in with a promise of a R200 million investment to "reposition" Fourways Mall. The focus? Doubling down on family-oriented aspects, a strategic move aligned with successful ventures like Bounce, Ster-Kinekor, and adventure golf. As Accelerate strives for rejuvenation, the road ahead is formidable. A dynamic market, changing retail dynamics, and the expiration of the head lease in November add urgency to the situation. The future of Accelerate, it seems, hangs in the balance at Fourways Mall.