It’s easy to look at the past few years as a blip in the calendar. With the COVID-19 pandemic, financial stress, isolation, and business failures, there’s no question why we want to put this time behind us.
But the past is the past. Business is booming for many retailers in the wake of the pandemic. Consumer shopping experiences have changed drastically due to the COVID-19 pandemic making now the perfect time for retail expansion. Here’s why.
HOW DID RETAIL CHANGE IN DURING COVID-19?
Because of our new way of doing things since the pandemic hit, retail stores from all over have assimilated to the new norms.
The Convenience of getting your groceries delivered to the comfort of your own home was an undeniable perk of the pandemic.
However, as stores start to open up to full capacity once again, everyone is itching to return to normalcy.
With the CDC’s mask guidelines changing for vaccinated people, people are starting to get out and about after more than a year of taking caution.
This means more in-person business for retail locations than ever before.
WHAT MAJOR RETAIL BRANDS ARE EXPANDING IN 2021?
With online sales boosting their overall sales throughout the pandemic, most big-name retailers are revamping and expanding their in-person locations.
According to Retail Dive, the number of stores announced to open outpace those announced to be shut down in 2021 – 3,344 opening vs. 2,649.
For example, American Eagle Outfitters is expanding its intimate apparel brand, Aerie, from 350 stores to approximately 400 locations by the end of 2021. The expectation is to have 500- 600 Aerie stores by 2023!
Dollar Tree plans to open 600 stores and renovate 1,250 locations this year.
And then there’s Target, who recently announced it is increasing new store openings at 30 to 40 stores annually. They also plan to kickstart their store remodel program this year with plans to remodel more than 200 stores a year.
WHAT MAKES A RETAIL STORE SUCCESSFUL?
As consumers start to venture out to shop, retail stores are approaching a creative mindset to keep this trend up. Success of today’s retail stores are determined by:
- Frequent sales to bring shoppers in
- New renovations and updates to an existing retail store
- Updating store branding
- Creating eye-catching product displays
There are so many factors to think about when updating a store’s brand identity. Things to consider when renovating a store include implementing new shopping approaches, switching up old product displays, updating furnishings and, of course, upgrading to new lighting!
But, it’s worth it. How a store showcases their products can increase sales tremendously.
NEW CONSTRUCTION RETAIL LIGHTING
Retail big-box stores are taking note of the importance of product displays and amping up their lighting systems.
Have you noticed that the best retail stores have pristine lighting? This is to make sure their products are shown in the “best light” (pun intended)!
Because 2020’s pandemic shut off the lights to stores worldwide, why not take advantage of 2021’s booming market to restart and flick on the lights once more?
Check out our selection of lighting options to get your retail store opened and successful!