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Adapting to the New Retail Reality

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The business of retail finds itself at a crucial crossroads. Today, it is about moving forward with savvy, vision, creativity and a resolve to give consumers what they want, albeit in a different, integrated way. Lesser affected have been the elite, high-end shopping centers and, conversely the lower-end centers. But the majority of retail centers nationwide fall into the mid-range category, and many of the mid-tier retailers themselves are struggling which, in many ways, mimics the plight of the country’s shrinking middle-class. Consumer tastes, preferences and budgets continue to evolve, leaving many formerly strong retail brands dying in the wake. For retail, the phrase: “Adapt or Die” has never, ever been more apropos.

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WWD 9/5/2017

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