Unless they are in the construction industry, people may not realize that trends shape the types of construction projects that are completed and how retail construction projects get completed. While there was a lot going on in the past few years, retail construction still continued on, and spending on retail construction increased from the year before.
In the year 2022, there is expected to be a lot of growth, and once again, spending on retail construction is expected to increase. As people look to construct a retail building, they need to be aware of what is trending in retail construction in the year 2022 to remain competitive.
How Retail Construction Looks to Trend in 2022
In the year 2022, it is expected that retail construction will increase. The pandemic slowed down the industry a bit in the years 2020 and 2021. However, as things began to improve, people are going to be looking to open businesses, and older businesses may be looking to move into new retail areas. As such, retail construction is expected to be in high demand.
New trends emerge in the construction industry every year. Watching patterns that emerge toward the end of the year can help experts determine which trends may be popular in the coming year. Some things we've seen that we expect to be trending in 2022 include:
Technology Adoption
Technology plays a key role in businesses. More and more business owners want the building they are moving into pre-wired for the features they may need, such as security features, charging ports, or Wi-Fi ready. Adoption and implementation of these technological advancements into retail businesses are expected to be a huge trend.
A Focus on Job Safety
In the year 2020, the fatal injury rate increased to 10.2. Construction employees want to go home to their families at the end of the day, and as such, there is an increased focus on job safety. When it comes to retail construction, it is expected that there will be an increased push for job safety this year.
Renovating and Retrofitting Existing Spaces
There are many issues that are affecting the construction industry, including supply chain issues and worker shortages. As such, it is believed that many people will look to renovate or retrofit their retail buildings instead of building a completely new building in the year 2022.
Issues To Consider
2022 continues to see issues come up due to a variety of reasons. Supply chain issues are causing shortages of materials including building materials like steel and concrete. Products can take months to arrive, lengthening the amount of time it takes to construct a retail business.
Everyone is aware of the labor shortages occurring in every industry. Unfortunately, construction isn't immune. But labor shortages also are occurring in the industries that assist construction companies. Inspectors, store clerks, and truck drivers are just a few industries that work closely with the construction industry and can slow down the building process.
There are also construction equipment shortages. Getting the equipment needed to complete a job can be challenging. Making it hard to rent or buy certain types of construction equipment, which can impact how quickly a job is completed.
Finally, inflation is increasing the cost of everything, from building materials to labor to permit costs. This can make it hard to set a budget or determine what the final price of constructing a building will be.
Let the Randal Program Help
Keeping up with everything while trying to concentrate on the construction of your retail store can be overwhelming. That's why we offer the Randal Program. Bringing all of our core services into one turn-key solution not only helps get everything organized. It also provides a hands-on project manager from concept to execution to installation. And with our locked-in pricing, you only have to deal with one billing system. Making it easier on your team and providing a trusted partner in Randal Retail Group.
Ready to save time and money on your construction projects? Click below to learn more about the Randal Program and how it can make the business of construction easier.
