Uploaded on May 24, 2019
Kohl’s believes partnering with companies, such as Planet Fitness and Amazon, will be integral to cutting costs and rightsizing its stores in efforts to drive traffic and grow sales. Many believe this new commercial leasing strategy could prove to be beneficial.
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Kohl’s believes partnering with companies, such as Planet Fitness
and Amazon, will be integral to cutting costs and rightsizing its stores
in efforts to drive traffic and grow sales. Many believe this new
commercial leasing strategy could prove to be beneficial.
The department chain, whose locations typically cover more than
80,000 square feet, signed a deal with Planet Fitness last month to
convert as much as 25,000 square feet of commercial real estate at
10 stores into a gym in efforts to double down on its active and
wellness initiative.
Kohl’s has plans to expand active wear and wellness
products, including golf apparel and Fitbit wearables.
As the gym concept grows, the company expects
gymgoers will also walk next door to pick up workout
gear and enjoy
As opposed to lamenting the impact that Amazon has
had on retailers across the country, Kohl’s is working
to adjust to the times through its pilot with the
internet giant. Kohl’s recently announced it will
stretch its relationship with Amazon, including selling
devices like the Echo and accepting Amazon return
items for free, in 200 stores.
The retail and marketplace behemoths first launched their
partnership in 2017 with Amazon kiosks in 10 locations
around the Los Angeles and Chicago areas.
Earlier this year, Kohl’s began testing another health concept
with WW — the newly-branded Weight Watchers — to
create a 1,800-square-foot studio for wellness activities in a
Chicago store. These partnerships and removing low-selling
products to focus on top-selling goods are ways that Kohl’s
is looking to stave off declines that have hit the retail
industry, including other department stores such as Macy’s,
J.C. Penney, and Sears.
Kohl’s is still confident that the consumer is strong. Besides
a sales blip in February that a plethora of retailers blamed
on poor winter weather, they are still optimistic about the
rest of the year.
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