Published On Mar 08, 2024
in Grocery
Are you thinking about opening a new store, moving your current one, or expanding into new areas and markets? If you are, you should explore the many benefits of grocery-anchored neighborhood shopping centers.
These commercial locations have a main grocery store surrounded by smaller businesses and services. They offer an abundance of opportunities for businesses like yours.
The Top 5 Reasons to Think about a Grocery-Anchored Shopping Center for Your Next Location:
1. Enjoy Increased Customer Traffic:
Grocery stores, naturally, attract a vast quantity of people who come often and stay a while. On average, customers go to their local grocery store about 1.6 times a week and spend 45 minutes or more there!
This high foot traffic not only gives your business extensive exposure but also promotes cross-selling opportunities with other retailers within the same center.
2. Consistent Revenue:
Grocery stores are essential service providers. They sell things people need all the time, making them robust businesses even in an economic downturn or seasonal change. No matter what's happening, people still need groceries.
With more people working from home and moving to the suburbs, grocery-anchored centers always have customers. This lifeline can help your business stay steady, even when things are tough.
3. Benefit from the Presence of Complementary Businesses:
The allure of top grocery stores often attracts other complementary businesses. You might find pharmacies, banks, restaurants, gyms, doctor's offices, and salons close by. This mix of shops and services makes it a great place for a variety of different businesses to thrive. Yours could be the next!
4. Enhance your Business Profile with High-End Tenants
Grocery stores are usually well-known and respected businesses that uphold a rigorous aesthetic and location standard. This helps to elevate the overall profile of the shopping center, attracting other high-quality businesses and tenants who are willing to invest in heightened shopping experiences.
5. Capitalize on a Loyal Customer Base:
Grocery store customers are repeat shoppers who exhibit strong loyalty. They trust their favorite grocery stores, fostering familiarity and repeat business. This loyalty often spreads to other businesses in the same shopping center.
This positive sentiment boosts patronage, leading to success amongst all tenant businesses.
A last thought on grocery-anchored neighborhood centers
It's clear to see how securing a space in a grocery-anchored shopping center could boost your retail or restaurant operations. If you want to learn more about these dynamic commercial hubs, don't hesitate to reach out to us.
Phillips Edison & Company offers a diverse portfolio of grocery-anchored shopping centers in various locations and sizes. We're dedicated to helping you find the perfect spot for your business.
Brian Sheehan
