The Professional Retail Store Maintenance Association (PRSM) 2019 Trends Report is the latest annual review of the state of retail facilities management and key trends facing retailers and suppliers. The report identifies the five trends as key to future management. PRSM says there is “a silent renaissance” in the industry with mixed-use developments and experimental stores leading the way. PRSM says the new trends mean executives will to adopt new strategies to manage the changes brought about as the new trends force change on the industries.
“The retail industry is evolving rapidly, and it is important retail facility executives understand the trends driving this evolution,” said Bill Yanek, PRSM CEO. “These trends provide great opportunities for today’s retail facilities management professionals to demonstrate their expertise and help their companies and the industry exceed customer expectations.”
- Mixed-use and Experiential Stores: The new move is to turn shopping centers into community centers. Retailers and the facilities must work together to provide experiences to attract shoppers by combining residential with retail, dining, and experiential/entertainment businesses.
- Restaurant Cross Promotion: Perhaps the way to the hearts of shoppers is through their stomachs. Retailers are turning to restaurants to provide something extra, such as cross-promotional partnerships, to provide culinary experiences for example.
- Medical Facilities: Doctor’s offices, medical clinics, testing and imaging facilities, along with pharmacies and other healthcare businesses are opening in shopping centers and in retail stores. Eighty-nine percent of enclosed malls now offer some type of healthcare service.
While many of these trends are not new, their presence on the list indicates what now may be trendy may soon be routine.
For more information on facilities management trends, contact Vanguard Resources.