There’s no doubt eCommerce has gained enough traction to encourage every business owner to go online, but having some form of physical presence where your potential customers are likely to be found is still important. You’ll be interested in finding out that even in this digital age, only 18% of the retail sales around the world happen online; the rest is all in-person purchases at a brick-and-mortar retail center.
Hence, if you’re planning to open a shop or relocate an existing one, renting in a strip mall should be a highly lucrative decision. To clarify this, we’ll take you through some of the benefits of renting in a shopping center.
Makes Your Business More Credible
Renting a commercial space in a shopping center makes your business seem more credible, especially if you’re still a growing business striving to build brand awareness. It gives off an impression to shoppers that you’ve been in business for a while and plan to stay in business for the foreseeable future. They will then be more likely to trust your brand than those that only sell online or have a standalone shop.
Cleaning and Maintenance
Do you know why a strip mall appeals to shoppers? Apart from the enticing banners and entertainment facilities they feature, it’s the cleanliness that adds to their glamor and encourages shoppers to keep coming back. The reason why shopping centers look so clean is because their maintenance is completed by specialized companies that work 24/7 to ensure that the facility stays in its best condition. By renting a space in a shopping center, you benefit from this critical function.
High Foot Traffic
The most desirable benefit of renting in shopping centers is that they are high traffic areas. This single fact has the potential to directly impact your profitability. You’ll be generating plenty of leads every day, some of whom will become your paying customers.
Plus, the wide collection of shops in a retail center attracts people of all demographics. It’s quite possible that a shopper came to buy from a different brand but took the time to enter you shop and explore your products. This way, a lot of people who never planned to buy from you end up purchasing from your store.
Stronger Purchase Intent
While some visitors are only attracted by a food court, a theater, or other entertainment facilities, the bulk of customers turn up to shopping centers with a strong purchase intent.
When in buying mood, people choose facilities that offer a lot of choice. When a shopper comes inside your shop, you can thus expect them to buy something instead of merely exploring.
Retail Centers In New York, New Jersey, and Florida
The US Commercial real estate is recovering but remains weak compared to the conditions before the advent of the COVID-19 pandemic. Other than that, commercial vacancies, including retail vacancies have been available at affordable rental prices.