Commercial construction is expected to experience 12.4% growth in 2018, according to Construct Connect. As a subset of this industry, big box and retail construction will experience growth in new ways. The big box and retail industries are innovating to remain competitive, stay relevant, and accommodate changing consumer demands. In turn, construction companies serving these industries will need to adapt to keep up with the changes.
As seen in other areas of construction, retail construction is experiencing an ongoing shortage of labor. Using technology to automate certain processes and outsourcing mundane tasks will be essential to staying competitive in the changing landscape.
Using BigRentz to handle your equipment rental procurement and logistics is a great way to get some mundane tasks off your plate. One of our national clients saves 250 hours per year by outsourcing their rental process to us—an average of 200 jobs per year! Read the case study to learn more.
Another one of our clients, a national flooring contractor, rents primarily 5k and 10k warehouse forklifts when working on big box and retail projects. When we asked the company’s President, Scott W., about his partnership with BigRentz, he responded,
“You truly are the single source for all our rental needs.
The personal, hands-on support you provide is exactly what we look for.”
As we do for these companies, we can assist your upcoming remodel, conversion, or new construction project and deliver the right equipment for each of your jobs. If your next project involves retrofitting new lights in an existing building to make it more eco-friendly, we offer all sizes of electric scissor lifts. We find that most of our customers who are building out a new interior in an existing building, they often need a boom lift to reach the ceiling. For remodeling a storefront, you need to reach up high on the front of a building; you can rent a telehandler to access the high area. Renovating an existing structure requires you to move materials long distances across the floor. We can help by providing you with a warehouse forklift. We look forward to partnering on your next big box project, retail project, or even tenant improvement and building a mutually beneficial relationship.
Instead of completely dying out, experts believe retail shopping is evolving to provide great experiences to consumers, rather than focusing solely on the material items they sell. With this shift in mind, “experiential” designs are expected to be more common. For example, providing space for shoppers to lounge, offering free wifi, and adding in more coffee shops and restaurants will encourage shoppers to hang out for the experience and incentivize them to shop in person rather than online. According to Dimensional Innovations’ 2018 Retail Trends Forecast, 50% of digitally savvy consumers prefer to shop in stores rather than online. Retailers who can provide great experiences can encourage these shoppers to stay loyal to them.
Another shift in consumer expectations involves health consciousness and sustainability. With this preference trend of the millennial generation, the big box and retail industries are forced to innovate the setup of their spaces to be more earth-friendly, by installing energy-saving lighting or providing recycling centers, for example. In addition, building centers such as fitness studios and health food restaurants will attract consumers by providing a fun experience and sustainability hand in hand. Construction resources will be in demand to retrofit commercial spaces to accommodate these changes.
Some new building construction is expected as well. For example, online stores such as Amazon are building brick-and-mortar locations to provide an omnichannel experience, an in-person extension of their brand. Other international companies are also looking to have a presence in the U.S. For example, Sneakersnstuff from Sweden and Line Friends from Korea both established their first U.S. locations in New York City last year. Another example of increased new building construction is the forecasted increase of medical office construction. This trend is partially due to aging baby boomers’ increasing medical needs. Similarly, an increase in senior living renovations is forecasted to trend upward.
Big-box is big business in North America, where the growth of e-commerce has helped the sector claim more than 10 percent of non-auto retail sales. A record 128 million square feet of new big-box developments were constructed in the second half of 2017, yet vacancy rates remained at a record low of 6.9 percent, according to a 2018 report from Colliers International. Colliers predicts the local big-box market will continue growing thanks to strong economic conditions and interest in e-commerce. This growth should buoy the entire retail sector in 2018 and beyond.
As demand for retail construction services grows, especially in the big-box sector, so should demand for construction companies experienced in the retail industry. Any construction company with years of experience in retail are crucial when big-box retailers face resistance in many communities across the United States.
After their establishment, big-box and retail stores require maintenance to stay fresh and inviting for clients. This maintenance occurs in several areas including:
Big-box and retail construction companies use a variety of equipment to perform their tasks. These activities may include:
To get these jobs done efficiently and effectively, big-box and retail construction companies need the best equipment. This construction equipment might include:
Renting construction equipment holds several benefits for retail and big-box construction companies compared to buying brand new equipment. These benefits include:
At BigRentz, we have all the construction equipment for your retail and retail construction services company need. We have years of experience in the retail and big-box construction industry, so we can help you determine what equipment you need on your job sites. Browse our website to learn more about our products and how renting construction equipment from us will benefit your construction company.