Phillips Edison: Grocery-Anchored Centers Continue to Remain Competitive

Article originally posted on HERE on June 11, 2019

It used to be enough for a shopping center to house the lead grocer in a trade area, or at least the closest grocer for the majority of residents. Not so anymore, thanks to the internet and increased competition from additional shopping centers and grocer entries.

That’s why Bob Myers, COO of Phillips Edison & Company, believes landlords and tenants need to do more to differentiate. That starts with emphasizing their value add. Amenities like Kroger Fuel, resources like dedicated parking and apps that provide buy online, pick up in store (BOPIS) services, such as ClickList, and conveniences like electric vehicle (EV) charging stations provide more reasons to keep shoppers on the property and for longer.

These amenities are complemented by service-based tenants like fitness centers, medical uses and fast-casual restaurants, which draw more consumers to centers regularly.

When it comes to offering more savings than your competition, Myers also believes going green is the way to go. That’s because investments in solar programs, LED lights and eco-friendly roofs can save big, and the savings can be passed on to both tenants and shoppers, Myers asserts.

Watch the interview to hear more ways grocery-anchored operators are remaining competitive in today’s marketplace.
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