The commercial real estate industry is indeed in a precarious position. The rise of online shopping has essentially stunted growth in this industry, especially with retail outlets. But with every industry disruption, there may be new opportunities for growth.
While there may not be much news about it now, expect more stories surrounding the growth of mobile retail outlets. Yes, online shopping gives consumers the chance to purchase what they want without leaving the comforts of home, but it may not be appropriate for all forms of commerce. After all, you can’t touch, feel or intimately inspect something online.
With that, the possibility of saving money on mobile storefronts that can move from place to place instead of being completely stationary may be very attractive to startup retailers already operating on thin budgets. While this may seem to be another threat to brick and mortar retailers, it may not. On the contrary, it may provide unique opportunities for struggling retailers to take more chances with merchandise that has not yet gained much traction in the marketplace.
So like the coming of autonomous vehicles, it is not out of the realm of possibilities that autonomous vehicles for retail outlets will become just as popular. With all innovations, contractual obligations must be carefully detailed to ensure each party’s rights are protected. This is where an experienced attorney can very helpful. If you have questions about how contracts for mobile retail outlets can be created, we invite you to contact us.
The preceding is not legal advice.