The holiday season is packed with activity and competition. At least that’s usually the case with holiday seasons. As the holidays close in, more retailers have to make the call on whether or not they’re advertising sales or events during the pandemic.
2020 has everyone asking those hard questions, but some retailers are taking the chance to innovate and compete in this unique market environment. Expansion during the holiday season provides an opportunity that, while risky, can promise long-term success. That aim to expand is what you’ll want to look out for when considering a new tenant this holiday season.
Footprint for New Openings
Easy access is big for the shoppers in the 2020 holiday season. Store pick-ups appeal to consumers with retailers in close proximity, and several outlets have continued forward with reopening and new openings.
Burlington’s CEO, for example, believes that the 2020 pandemic may create an even stronger consumer need for value. Combine that circumstantial boost with the usual holiday season demands, and Burlington’s 36 store openings may exceed expectations with their momentum.
Branching out to new geographic areas is a risk retailers don’t take on without the appropriate infrastructure and financial backing to consider it, as illustrated by brands like Sweetgreen. This quick-serve powerhouse is using their combined focus of digital sales and atmospheric spaces to continue their expansion plans through the holiday season and beyond, serving as a fine example of what a solid tenant choice could look like as we near the end of 2020.
Innovation Out of Necessity
Of all the aspects retailers consider in expansion plans, the space to innovate provides the most room to experiment—and the highest risk to flop. While many retailers stay stuck in their usual routines, others have been using the unique conditions of 2020 as a jumping off point to work toward practices like curbside pickups and dedicated apps.
Starbucks, for example, has a variety of solutions to the holiday expansion problem. They’re focusing on their Starbucks Delivers initiative, their order-ahead app, and the expansion of their new Starbucks Pickup locations designed to work in tandem with the app so customers can order and pay ahead of time before hitting the pickup on their way to work.
This new way of providing products offers an interesting new business model. Some retailers may now just need enough space to host their equipment and employees, which opens up a variety of smaller spaces you can offer to retailers focusing solely on the new pickup strategy consumers have become accustomed to over the past several months.
Adapting to Tenant Needs
Meeting customers needs this holiday season will look different than ever before. Brands that succeed will be those with a keen awareness of their space and a clear strategy to deal with the wave of holiday business in the middle of a pandemic. For example, though digital sales continue to rise, customers still have a need for brick-and-mortar pickups.
Whether tenants need space to expand or have developed an innovative new way of using their space, it’s important to consider all of the varieties of holiday expansion when deciding if a retailer will be a good fit for your space.
When you’re ready to pinpoint the brands expanding this holiday season that would also work in your vacancies, schedule a Retailsphere demo to get access to direct contact information for the right brands.