Thursday, November 2, 2017

How E-Commerce Is Changing Commercial Real Estate

E-commerce has had a significant impact on the way people purchase goods. The convenience of buying what you want in the comfort of your home is hard to match. Due to the thriving amount of online shopping, brick-and-mortar stores are experiencing a decrease in customers. Retailers must now find ways to update and adapt in order to keep up with e-commerce. In today’s technology obsessed world, commercial real estate must find ways to remain profitable.

To get people to shop instore, companies must offer something special to draw people in. Commercial real estate needs to enhance the amenities provided at shopping centers. Child play facilities will encourage parents to leave the house more often if they know that their children will be entertained.

With the reliance on smart phones, commercial real estate must keep up with the current technology. Utilizing beacons can help drive people into the stores. Beacons use the phone’s GPS signal to forward information about stores located near the person’s location. The beacon can communicate individualized messages such as store promotions or provide helpful customer service. Technology can also help ease the payment process for customers. Amazon is testing a potential new concept called AmazonGo in their stores. This feature allows people to check in and out of stores with their smartphone. They also have sensor fusion, so the store knows what products the customer is planning on purchasing. To complete the transaction of buying the items, the customer merely needs to walk out of the store. This technology will help to abolish the hassle of checking out, and save customers time. Advancing the retail experience is the best tactic to ensure that people continue to shop there.

Another way e-commerce is affecting commercial real estate is with the supply chain process. In the past, inventory had to travel to several locations before reaching the store. However, retailers now are simplifying the procedure by having stores, warehouses and sites all in one place. This means that commercial real estate must buy property large enough to house the entire inventory. Having the inventory onsite will cut down on shipping and processing times, thus giving customers their items quicker.

Commercial real estate now must have multiple benefits to promote shoppers to come to their store. It’s not enough to simply offer products instore; people need more incentives to shop outside of their home. For help on adapting commercial real estate to e-commerce, contact NAI Isaac. NAI Isaac Commercial Properties can provide assistance by offering a variety of commercial real estate services. Our professional associates are well-equipped to handle any concerns related to real estate. We offer exceptional customer service and promise to produce remarkable results to leave clients satisfied. NAI Isaac is located in Lexington, Kentucky and serves the surrounding area as well.

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