October 14, 2018
We are always considering retail from the landlord perspective, and there is so much to consider as retailers and landlords emphasize the experience. But, over the past two weeks, I have been on the other side of the equation – feeling the impact of showrooming and experiential retail as a consumer.
Two weeks ago, I was at Mall of America. Two stores that caught my attention were UnTuckIt and Indochino. I seem to get inundated with emails from these two companies and have always though that I would like to give them a shot. Both etailers had physical locations at Mall of America where I was able to see the product up close and, in the case of UnTuckIt, try the product on. That showroom experience converted me. Honestly, had it not been for the physical presence, I don’t know that I would have ever made the leap.
And, this past weekend, I had a different kind of “experiental” retail experience. My wife and I made a road trip to meet old friends in Louisville. There, we visited more than a handful of distilleries. While I have always enjoyed a mule or two, I didn’t know much about bourbon. But, I truly believe this was experiential retail at its finest. Similar to leaving the World of Coke in Atlanta, you feel as if it is now your responsibility to be a champion of their product. There is now a connection that will stay with me. And, Total Wine will be the ultimate beneficiary.
On one lease language related subject, distilleries and breweries are often specifically prohibited in shopping centers’ “Rule and Regulations” or in other prohibited uses. But, as the industry changes, this is just one of many formerly important restrictions that may need to be reconsidered.