Shopping / Retail

Marketplaces Find New Relevance

Posted On: Mar 15, 2019   |   Posted By: WWD

To market, to market they go.
Marketplaces are the retail industry's shiny new thing. Partly a function of the real estate market, like pop-up shops, marketplaces are sprouting at a time when there remains a glut of available space driving down asking rents and landlords willing to deal. There are many variations on the theme, but the concept is catching on - with retail operators and investors.
Today's marketplaces are antecedents to some of the world's first forums, including Athens' Agora, where in 6th-century B.C.E. merchants and consumers haggled over goods, and the Grand Bazaar of Istanbul, which began operating in the 15th century. The modern marketplaces generally feature between eight and 30 emerging or digitally native brands - or both - often with a food and beverage component.
Marketplaces owe a debt to food halls, with their stalls devoted to different chefs, restaurant to-go menus, bakers, candy makers and more, and have even been dubbed “food halls for products” by some experts. The projects...

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