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is still over-stored: A 2017 Cowen study found that the per capita shopping center square footage that American consumers get is at least four times more than that of their U.K. and French counterparts. Traditional brick-and-mortar retailers, fast expanding their own e-commerce operations, are still cracking the code on how best to capitalize on their physical locations and give shoppers a compelling reason to visit stores over shopping on Amazon. However, those dynamics and downbeat headlines don’t translate to any dismal retail apocalypse scenarios. Changing consumer behavior has simply given the traditional brick-and-mortar retailers and shopping-center developers a big wake-up call and forced them to reinvent and answer the new fancies of consumers. The fact that Amazon.com , the biggest industry disruptor, is building a bigger physical footprint with the purchase of Whole Foods and the opening of Amazon Go checkout-free stores is just one supporting piece of evidence of the importance of physical retail. Also look at the parade of other online-born brands, including Warby Parker, Casper and Allbirds, that have moved to embrace store openings. On the traditional retail front, industry giant Walmart has enticed online shoppers with a discount when they choose to pick up orders at stores. The average rent for both open-air shopping centers and enclosed malls in the U.S.
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