How Businesses are Reshaping Shopping

What Stein Mart is doing to adapt to growth in online commerce.

E-commerce has prompted the evolution of most facets of many industries, perhaps none more than commercial real estate.

The fulfillment of online shopping both positively and negatively affects brick-and-mortar facilities.

The NAIOP Commercial Real Estate Development Association Northeast Florida Chapter’s quarterly luncheon Thursday at San Jose Country Club explored the topic.

Panelists included Rick Schart, senior vice president of supply and e-commerce for Stein Mart Inc.; Christian Flowers, CEO of Fulfillment Shipping and Handling Inc.; and Cushman & Wakefield industrial brokers Tyler Newman and Jacob Horsley.

Online shopping surges

Presented at the NAIOP Commercial Real Estate Development Association chapter’s quarterly luncheon:

14% Annual e-commerce sales growth.

3%Overall annual retail sales growth.

8.4%The percentage of online shopping sales. The volume has been doubling every four to five years.

2.1%The percentage of Stein Mart’s business that came from online shoppers in 2016. That’s up from 1 percent in 2014.

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