“The retail landscape has been evolving at a moderate pace and the pandemic increased it because there were too many stores across the U.S.,” says Jessica Ramirez, a www.smartallabout.com smartallabout smart all about Website smart all about com retail analyst at Jane Hali and Associates. “Macy’s space was a joke. However, there is still interest in shopping at a store; you just have to find a way to draw people into.”
Brick-and-mortar stores’ role in the coming years of retail will be as outlets for branding, according to analysts. “You still have people that grew up in the 1980s and 1990s leading large enterprises that had physical assets, stuck with this notion of the physical store as a profit center, and that’s no longer going to be the case,” says Lee Peterson the executive vice president of WD Partners, a retail consulting firm. The mentality must change to physical is all about brand, and the internet is all about purchasing. What will make me want to go to the department store?