The transformation of retail, a widening skills gap, technology, fulfillment center growth, and benchmarking are all trends in the retail facilities management industry driving change.
DALLAS, TX – September 6, 2017 – The Professional Retail Store Maintenance Association (PRSM), the authority on retail, multi-site facilities management, today released its annual review of the state of retail facilities management and key trends impacting the nation’s leading retailers and suppliers.
The industry-leading report identifies five major trends driving the facilities management industry. They include: the transformation of the retail industry, widening skills gap, technology, fulfillment center growth, and benchmarking. These trends are driving change across the industry and will require facilities executives to adapt new strategies and tactics to succeed.
“The retail industry is transforming and it is critical for retail facility executives to understand the trends driving this transformation,” said 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 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 is 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 Streamline 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 BenchmarkingTM 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.
Download the PRSM Association 2017 Trends Report to learn more about how changes in the retail industry are impacting retail facilities management today.
The Trends Report was released today at the PRSM Association Mid-Year Conference, in Indianapolis, IN, and will be a topic of discussion at the 2017 PRSM Canadian events, in October. Held each Fall, these events provide strategic direction and tactical guidance for the retail industry, including retail facilities professionals. In April, the PRSM2018 National Conference will be held in Nashville, TN and will host the largest, annual gathering of retail facilities management professionals.