After decades of amassing ever-more square footage under roof, big box retailers are evolving in a new direction of getting smaller. According to Time Magazine, many big box retailers are realizing that the enormous, one-size-fits-all approach doesn’t work for all shoppers and locations. Many retailers are beginning to shrink into smaller stores, sometimes with smaller, more intimate and approachable locations within larger stores.
Industry leaders like Target and Wal-Mart are leading the way by introducing these smaller store-in-store specialty shops as well as smaller versions of their own stores in more urban locations. Target reportedly already has a deal with Apple Inc. to put several of their Apple Stores inside Target locations. In addition, they are also rolling out CityTarget stores in urban areas that are two-thirds the size of their regular stores. Wal-Mart is also beginning to put up Neighborhood Market stores in urban Southern California markets.
To read the full article from Time Magazine, click here.