Quote:
Originally Posted by intrepidDesign
I was listening to NPR the other day and they had a story about "The death of retail". Long story short, not all retail districts are created equal. Are malls in rural areas dying? Of course, but so are rural areas. Companies like Sears that invested in grey box stores in the suburbs and rural areas are feeling the pain because of the demographic shift. Big city stores are having a much easier go of it, and can by and large support big retail. I think this proposal looks amazing. I know I'm probably in the minority here, but I like elevated pedestrian walkways. No typical big retail blank walls until you're way up, and with a modern lighting scheme, this thing would be bad to the ass.
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Naw, the walkways are dope. This is going to look like some Asian megacity retail district when it is done. Two floors of outdoor retail? Awesome. It's going to feel like a classic two floor indoor mall, but outdoors.
And yes, not all retail is equal. Downtown Chicago flagships aren't there to sell eight billion pairs of jeans, they are there to enforce the brand and create a marketing experience that causes people to buy eight billion pairs of Nike's. The insane rents of flagship stores rarely make them the most profitable outlets of a brand. How many people buy products like Nike's or jeans from their TV? None, yet the brand still runs TV ads. The idea is to get people to buy their brand somehow whether from a store or online or from the flagship. Many brands that are online are now even creating retail storefronts that don't carry stock for sale, but allow customers to experience the product or try it on. Then you order online and it shows up next day. Warby Parker is a perfect example of this. Expect many huge brands to continue to open up flagship spaces like this (see Starbucks, there is no way coffee sales will cover rent at that location) downtown Chicago. This is exactly where this trend in retail will play out as it is the largest urban core with the highest exposure and foot traffic for 1,000+ miles in any direction. If you want to fully indoctrinate 60,000,000 Midwesterners with your brand presence you need to have a flagship in Chicago. It's that simple.