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Assessing Retail Store Size and the Impact of E-Commerce
The impacts of e-commerce and changing consumer behaviors have caused brick and mortar retailers to shift their business models and reduce store square footage.
“Small-format stores have been gaining ground on larger ones since 2009, which is when large-format size peaked at 10,516 square feet. Since then, square footage at U.S. retail stores has dropped 4.4%. The average size is now 10,051 square feet.”
“Between 2017 and 2018, convenience and drug stores were the primary drivers of retail store closings.”
“Click-and-carry sales have grown from 4% of online consumer packaged goods (CPG) sales to 11% in just two years.”
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