According to a survey by the real estate consulting firm CBRE, retail transaction volume increased astronomically by 160% in the first half of calendar year 2022 and by more than 100% in the second quarter of calendar year 2022.
The productivity of retail spaces have improved as a result of pent-up demand from customers for convenient in-store experiences and immersive engagement during the pandemic. According to a report by CBRE, "experiential retail" is presently balancing out the dominance of e-commerce and has strengthened the companies' physical presence.
The retailers' ongoing development of innovative approaches will grab customers' interest and boost sales in both online and offline stores. Project completions in the retail industry increased by more than 500% in the first half of calendar year 2022.
As the "in-house experience" develops into a crucial criterion for bridging the retailer-consumer gap, firms are also redesigning and resizing their physical store strategies across multiple cities to vary their portfolios and grow their reach.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.