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Online retail sales have grown over 15% annually for the past three years, triple the rate of traditional "brick and mortar" sales. The rise of e-commerce has led to an increasing need for distribution centers and other specialty facilities to not only keep shopping center shelves stocked, but to directly interact with consumers. A consumer might view a product in a retail store or showroom, purchase it online, pick it up from a warehouse, and return it to the original retail store. This inter-related way of engaging in a retail experience is called Omnichannel, and requires a range of commercial real estate types – import center, distribution center, fulfillment center, parcel hub, delivery center, store depot, physical store, and return processing center. The trend is further fueled by a growing demand for overnight and same-day delivery of online purchases. The implications of this dramatic shift in retail buying behavior on commercial real will be explored by this panel.
Keywords: Los Angeles Summit 2015, Omnichannel, e-commerce, retail, commercial
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