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Developers may look to boutique industry for new tenants

On Behalf of | Dec 2, 2018 | Development |

Consumers here in California can log onto their computers and purchase just about anything from nearly anywhere in the world just like everyone else. This new way of shopping has put a dent into the traditional brick and mortar method, but it has not killed it just yet. Developers may still find tenants for new developments by looking to the boutique industry.

When consumers know what they want, they turn to online retailers such as Amazon. However, when they are not quite sure, the turn to brick and mortar stores. More than that, they turn to smaller stores that specialize in one category of goods for which consumers are searching.

Small, independent stores that do not belong to a chain are gaining traction in retail markets across the country, including here in California. This is due in large part to the experience boutiques offer. For many consumers, it is about more than just a series of clicks and an anonymous delivery to the front door.

It is about taking advantage of a salesperson’s knowledge of the product. They want to connect with people as they make their purchases. Boutique stores know their goods since they often limit them to certain types and items.

California developers could take advantage of this portion of the retail market in order to keep their properties successful. Instead of looking for large anchor tenants, it might be better to seek out boutique stores. This could mean making adjustments to marketing, amenities and lease terms in order to attract the right tenants for a particular location.