The Professional Retail Store Maintenance Association (PRSM) recently released its 2018 Trends Report, an annual review of the state of retail facilities management and key trends impacting the nation’s leading retailers and suppliers. The report identifies five major trends driving the facilities management industry. These are:
- Transformation of the retail industry.
- Widening skills gap, technology.
- Fulfillment center growth.
“The retail industry is transforming and it is critical for retail facility executives to understand the trends driving this transformation,” says Jonathan Bauer, 2017-2018 Chair of the PRSM Association Board of Directors and Senior Director Store Development, Gap Inc. “These trends provide great opportunities for my peers to demonstrate their expertise, to better support their companies and to drive change in the industry.”
A breakdown of the major trends from PRSM includes:
- A New Era in Retail: Retail is not dead it is evolving. As legacy retailers, close and redesign stores, online retailers open brick-and-mortar locations and shopping malls transform into community epicenters that include fitness centers, restaurants, offices and even churches, retail continues to evolve to meet changing consumer demands.
- The Skills Gap Crisis: Retail Facilities Management along with other skilled trades is facing a crisis. It is the increasing gap between the number of trained, qualified and experienced professionals needed in the industry and the number of qualified, skilled applicants.
- Technology – Tapping into Tomorrow Today: What was fast is now slow, what was smart is now not smart enough and 10-year tech forecasts are here today. Mobility, VR, AR, drones, robotics and artificial intelligence are all impacting facilities management.
- Retail Streamlines Fulfillment Centers: The last mile of delivery has become critical. As online retail explodes and brick-and-mortar retailers promote online sales, the demand for streamlined fulfillment centers has skyrocketed.
- Making the Mark – Industry Benchmarking: Benchmarking drives change and Dynamic Benchmarking provides factual comparisons of compensation and financial/operational data and enables facilities professionals to make better decisions based on actual data instead of conjecture and opinion. The numbers and comparisons tell the story.