As consumers increasingly shop online, retailers are changing how they interact with their customers. Customers are expecting the option of picking up their purchases or having them delivered with expediency and convenience, similar to how they were able to buy the product with just a few clicks.
Retailers recognize they need to feel as if they’re physically close to their customers, according to Los Angeles commercial real estate executives.
Access to the customer was the major factor in Amazon’s decision to acquire Whole Foods. “About 80 percent of Walmart’s real estate is within 15 minutes of 90 percent of the U.S. population,” says Jon Reno, SIOR, senior vice president and managing partner, Kidder Mathews. “Amazon doesn’t have that, and they know that. They’re trying to get there, but that’s where Walmart has its competitive advantage.”
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