Whatever the price, it may be plummeting if retail center owners and retail stores are not successful in capturing some percentage of catalog or "E" Commerce sales, according to a study by University of North Texas Professor John Baen.
His survey of commercial retail professionals and business owners shows that "E" Commerce, that is, commerce by electronic means such as telephone catalog ordering or online shopping, is adversely affecting sales at traditional malls and other retail outlets.
The result could be more and more empty stores.
To help offset losses, some major national retailers have been either closing stores and "moving" their business to the Internet or making moves to incorporate or expand retailing with online sales within their existing retail stores.
Baen, who teaches classes on real estate in the UNT College of Business Administration and is involved personally in real estate, said, "The writing is on the wall for those involved with traditional retail spaces. For stores and malls to survive, they need to lay claim to a percentage of 'E' Commerce sales."
The results of his survey were presented this month at the American Real Estate Society's national meeting held in Tampa, Fla.
Baen surveyed individuals closest to ground zero about the implications of "E" Commerce on retail property. Respondents to his questionnaire included retail property managers and leasing agents, developers, investors and owners.
His full report is available by e-mail. Please e-mail Christy Strickland at: [email protected] and write in the subject line, SEND BAEN STUDY. For information by phone, contact Cass Brunner in the UNT News Service office, (940) 565-2943, or Dr. John Baen at (940) 565-3071.
RSS