Retailers nationwide are grappling with how to optimize their store space amidst changing consumer trends. Many big box retailers are realizing they can downsize or repurpose their real estate for better efficiency.

To attract customers and maximize location potential, companies are exploring innovative options. This includes forming partnerships with other businesses or embracing coworking concepts like WeWork, which offers private offices, shared workspaces, and event areas.

In January, WeWork launched "Made by We" in New York, featuring a retail concept offering a diverse range of products, from snacks to apparel, alongside a café and shared workspaces. The aim is to foster collaboration, innovation, and creativity within the retail environment.

The expansion of retail, both for small boutiques and large chains, reflects a strategic response to changing workforce dynamics. With 43% of US workers expected to be remote at least part-time by 2030, flexible coworking spaces are predicted to grow to 30% of all offices.

It's not just about rethinking real estate; it's also about reimagining the consumer experience to be more engaging and meaningful.

Source:: Retail Dive