Entertainment Concepts Are Transforming L.A. Retail
Entertainment concepts are transforming the Los Angeles retail market. According to a recent report from JLL, retail tenants from 2005 to 2009 were largely apparel boutiques. Today, apparel retailers make up only 36% of the total category, while restaurants, entertainment and fitness are the majority of tenants today. Bowlero, Dave and Busters, AMC and GameWorks are among the fastest expanding retailers.
“Entertainment is driving our industry forward in two ways. While true entertainment concepts are one of the darling categories of today, entertainment is becoming integrated into almost every facet of the retail experience,” Benjie Baker, VP at JLL, tells GlobeSt.com. “Restaurants continue to move toward open-kitchens and restaurant as theatre.”
The retail market has also adapted to the demand for entertainment-forward concepts. “Retailers concern themselves with guest relations these days, not customer service. Overall, the pure entertainment retail concepts are bringing a much-needed vivacity and intrigue back into the L.A. retail market that is struggling to adapt to an omni-channel world,” says Baker. “While the process of selling goods may be changing, people will always want to be entertained.”