I attended the ICSC show in Atlantic City, New Jersey a week ago. Among MANY items discussed at various forums and on the floor, one of the more interesting topics was the death of the big box retail store. The attached article, about Walmart downsizing, seems to confirm this is for real.
The prediction is that "In our lifetime we will see the last Walmart (WMT) discount stores disappear," says John Rand, director of retail insights for Kantar Research in Massachusetts. If that statement doesn't make an impact...well, read the article and see what you think.
http://www.dailyfinance.com/2012/06/07could-walmarts-big-box-stores-disappear-in-our-lifetime/
One thing is for sure: retail is undergoing tremendous and rapid change. And no one can predict exactly where this will all end up. Categories such as "drug store, supermarket, discount retail" do not mean what they once did. Now grocery stores have pharmacies, pharmacies are small grocery stores and the Walmarts have groceries and pharmacies. Walgreens is even planning a sushi bar in their flagship Downtown Crossing Store in Boston.
(http://articles.boston.com/2012-02-28/business/31104852_1_walgreens-plans-micheal-polzin-borders-space)
Stay tuned and enjoy the ride!
- A. John Gill
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