A growing number of traditional retailers are expanding their offerings into the hospitality space in an effort to differentiate their brands and improve customer experiences outside of the typically impersonal, one-size-fits-all online shopping transaction. After all, millennials are prioritizing experiences over things and filling their social media feeds with story’s that reflect a certain lifestyle.
Take, for example, Restoration Hardware, which has doubled down on its investment in brick-and-mortar design galleries with the addition of luxury restaurants and wine bars that are filling Instagram feeds and turning a pretty profit. Capital One, which started out as a credit card company before expanding into retail banking, today operates a number of Capital One Cafes where customers and non-customers can gather for a cup of coffee and free Wi-Fi without conducting any banking business. In 2019, Equinox will mark its transformation from a chain of gyms to a wellness-focused lifestyle brand with the introduction of luxury hotels and bespoke tours.
Real estate owners and investors can capitalize on retail’s experiential revolution when they work with experienced professionals who understand the local market and its potential for growth.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.