Going Shopping: What's Behind Los Angeles Retail's Shift Back to Brick and Mortar

Jonathan Lorenzen, a partner at Allen Matkins, highlights the shift towards online shopping observed over a decade ago, noting that consumers are now eager to return to physical stores, seeking unique products and shopping experiences.

“If someone wants to go out to the store, they want to see a really nice product that’s unique, and if they want convenience, they'll still go to those types of retail locations,” he told L.A. Business First.

He emphasizes that the pandemic prompted consumers to approach retail visits more intentionally, a trend to which retailers have adapted. Lorenzen also notes the importance of entertainment and experiential elements in driving foot traffic to retail locations, reflecting the preferences of modern consumers.

Unique shopping centers and retailers, such as those with a specific niche or product customers can't buy online, are finding added success, added Lorenzen.

Finally, he highlights the significance of location and surrounding amenities in attracting customers to brick-and-mortar stores, echoing the sentiments of successful retail ventures like Lele Sadoughi.

Read the full article here (subscription required).