Department stores have changed the way we shop and will continue to do so, despite the temporary disruption caused by the coronavirus pandemic. EastBanc Principal Philippe Lanier, a retail landlord in Georgetown, Washington, D.C.’s historic shopping district and neighborhood, is optimistic about the long-term prospects.
Brick-and-mortar retail was going through dramatic changes long before the COVID-19 outbreak. E-commerce forced it to adapt and the new challenges brought on by the health crisis are pushing its flexibility to the limits, at least in the short term. In this Commercial Property Executive special edition podcast, Lanier explains the coronavirus situation from a retail landlord’s perspective. He talks about what retailers are forecasting for their sales in the next few months and suggests ways to create a better shopping experience when several restrictions are still in place.
Tune in for a comprehensive discussion on the future of urban department stores!