We recently attended the statewide International Council of Shopping Center Conference held annually in Monterey. The conference was very insightful about new trends in the retail world and expansion plans for large retailers, many of which we would love to see come to Redding!
One of the recent trends is the flourishing of either luxury or discount stores. Mid-range stores on the other hand have had a rougher road and many stores have been downsizing. Many stores are considering an “omni-channel” store model which allows for less square footage and more of a showroom style setting where customers can receive ads on their smartphones in the store and then purchase that item online. This model has forced many mid-range retailers to re-evaluate their square footage needs.
In regards to the mentality towards moving to the Redding area, the overall sentiment was best described as “We’re not ready for that yet.” A popular view shared by these major retailers was that they would be moving away from class C shopping center space. Much of this type of space is prevalent in the Redding market. Although retailers may be slow to warm up to the area, good things may be in store for more retailers coming to Redding once the Costco Development is complete on Oasis Road. We’re eagerly anticipating this to further pique the interest of major retailers considering a move to Redding.
About Chris Haedrich
After graduating with a degree in Global Studies from University of California Santa Barbara, Chris joined the firm in 2005 planning to stay as long as he was inspired and challenged …and he has never left. Chris is a CCIM candidate and member of the International Counsel of Shopping Centers (ICSC). When he’s not chasing deals or fly fishing through town, Chris has enjoyed several positions on various local boards, including the Greater Redding Chamber of Commerce, Redding East Rotary, One SAFE Place and Catalyst – Redding Young Professionals. In his previous life he was a fly fishing guide in Colorado, amateur videographer, and wannabe world traveler. Ask him about his climbing wall in his barn or most recent homebrewed beer.