Publix Working on a Smaller Format Store?
Is Publix entering the small format fray? Real estate sources say yes, according to Orlando Business Journal. The concept is apparently a new 20,000-square-foot prototype store that Publix can reportedly put into seaside communities and college towns. Generally, Publix stores tend to range from 40,000 to 60,000 square feet. The smaller format could help the retailer compete against specialty grocers like Trader Joe’s in urban neighborhoods.
This isn’t the first time ANUK has reported on big box retailers looking into smaller format expansion. Wal-Mart, Kroger, Food Lion, Giant Eagle, Sobeys, and Target have all been looking into developing smaller, “express” format stores. TargetExpress, for example, aims to capture the millennial crowd at the University of Minnesota, near to company headquarters in Minneapolis. Similarly, Wal-Mart has its Wal-Mart on Campus concept and the upcoming Wal-Mart to Go convenience store. Each of these concept stores proclaim offering faster service with more alternatives for convenience, such as on-the-go meal options.
With more retailers opening up neighborhood markets, I have to wonder if these smaller format stores will be the new trend in expansion. Although Publix is staying quiet about future plans for now, this new format is definitely an intriguing idea.
Stay tuned to DeliMarket TV as we continue our coverage on Publix’s potential new format.