A Case For The Retail Podium

With consumer behavior shifting toward online shopping, it’s tempting to think that traditional shopping models are a thing of the past and that the future of shopping is online. Realistically, online retail will likely continue to play a big part in consumer behavior even as we settle into our new normal here in Cambodia. However, despite its rise in popularity amplified by the pandemic, one thing that online shopping hasn’t been able to replicate or replace is the consumer’s need for a tactile and sensory experience – people still need to see, touch, try in order to trust that they’re getting exactly what they are paying for.

Trust is a major factor, as a consumer, it is still more gratifying to visit shops in person to pick out the products you want instead of spending time browsing online just to find a different product delivered to your doorstep. This is why in large mixed-use developments in Cambodia, developers are taking the opportunity and rising up to the challenge to meet consumers’ new needs through building retail podiums that re-think shopping and dining experiences.

Retail podiums in mixed developments don’t just make business sense for developers, it also enhances access to services and goods to tenants, which improves their lives and living standards significantly. These typically include a healthy mix of dining facilities and service-oriented businesses, which will always be deemed essential and are able to support different types of occupancies.

One of the creative ways developers are designing their retail spaces is by integrating it with outdoor components such as open-air courtyards, gardens, and patios that can facilitate group gatherings and community events in a safe way. These will likely continue to be selling points for retailers in the future.

As a business looking for visibility and foot traffic in a central location, a retail podium allows you space to showcase your products and target a wider audience. Foot traffic is almost guaranteed given the mixed occupancy of residents and office-goers. Having multiple consumer groups in the same space and meeting them where they spend most time helps diversify and manage risks for businesses.

Lastly, and perhaps the most crucial question businesses looking to open retail spaces should ask is, ‘who will manage my property?’ Too often in Cambodia, great businesses find themselves in trouble because of fickle landlords who are simply looking for the highest bidder. One of the most important factors yet one of the most overlooked is how to pick the right partners and property managers who are interested in building a community and who value relationships – a team willing to support your business in the long run through thick and thin.

If you’re a business owner or an individual looking to rent a flexible retail space at a central location with a reliable and responsive management team, contact us at TK Central at 023 883 716.