The Big Tangle: How Supply Chain Problems are Changing Stores and Their Buildings
In recent times, we've been hearing a lot about supply chain problems. These problems mean it's hard for stores to get the things they want to sell. This has a big effect on the places where these stores are located, known as retail real estate. This post will talk about how supply chain issues are affecting retail real estate and what store owners and building owners can do to solve these problems.
The Tangled Web of Supply Chains
Supply chains are like big webs that help move things from where they are made to where they are sold. But lately, this web has been tangled up due to many reasons, some unprecedented such as the global pandemic, worker issues causing ships waiting a long time to unload, and not enough workers. Stores are facing a hard time because they don't have enough inventory to sell. This problem is also hitting the buildings they are in because less people come to shop, and some stores may even have to close.
Changes in Retail Real Estate
When stores have trouble getting and keeping their inventory stocked, they might not need as much space. This can be tough for the people who own these buildings. However, smart building owners can find new ways to use empty spaces. For example, they can turn them into small delivery centers to help get items to customers faster, going along with the growing trend of shopping online.
Finding Solutions
For Store Owners:
Mixing Up Suppliers: Stores can work with different suppliers so if one has a problem, they have other options.
Using New Tech: With the help of computers and special software, stores can keep a better eye on their supply chain and solve problems quicker.
2. For Building Owners:
New Uses: Empty store spaces can be used for different things like delivery centers or community gathering spots, or converting to experiential retail, that relies on experiences more than products.
Working Together: Building owners and store owners can talk to each other and find ways to help each other out.
Wrapping Up
The supply chain problems show us how closely connected stores and their buildings are. Even though there are big challenges, there are also chances for store owners and building owners to work together and find new solutions. By being creative and working as a team, they can get through these tough times and be ready for what comes next.
For more information on ways you can mitigate supply chain issues with your real estate, please email : info@cbicommercial.com