Forbes March 14, 2020
There has been a significant adjustment taking place, over the last couple decades between the product and service industries. In 2002 product retailing made up the majority, 53.2% of physical retail; the numbers have been shrinking ever since. Today, service tenants make up 52.6% of U.S. retail space, while product-based companies make up 47.4% of leasable space. One need only look at the run-of-the-mill strip mall to see the plethora of nail salons, exercise/fitness facilities, local spas and walk-in-clinics as an example, and there is every reason to believe the trend will continue.
Retailers Look to Services
A cursory examination of where some leading brands are investing gives clues to where their growth lies, and it is clearly in...
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