It appears that smaller is actually better these days, at least as it relates to the number of new stores being opened in North America. Is the consumer getting tired of the giant supercenter, especially with the continued rapid growth of e-commerce? There’s no question that the large box retailer is still convenient for the stock-up trips, but it’s hard to argue against the benefits of the smaller box, convenient, value oriented retailer. It’s no wonder that certain channels are doing so well, especially those that espouse value and convenience. Even Walmart is thinking small lately with 80% of their new stores being opened in the US this year being either their Walmart Express or Walmart Neighborhood store concept. Then you have players such as Best Buy, Staples, and Office Depot looking to downsize their existing average store size as quickly as possible.
It will be interesting to watch how effectively organizations can adapt to the changing demands of consumers. One of the most exciting aspects of retail is that it is constantly changing. Successful retailers continually evaluate changing consumer demands and course correct as needed. They just need to make those changes before their customer decides to shop somewhere else!