As more shoppers use artificial intelligence to decide what to buy, retail property owners and tenants need to bring more of the technology into their stores to lure customers, said Anjee Solanki, national director of U.S. retail services at Colliers.
Nearly 50% of shoppers use AI for product recommendations, and 75% said it "heavily influences their decisions," according to a May Colliers report titled "How AI Is Redefining Retail Real Estate in 2026." Therefore, Solanki told CoStar News, landlords and tenants that fail to integrate AI into their physical spaces and operations will fall behind "at some point unless your business doesn't require it."
Technology available to help owners and retailers leverage AI includes fifth generation, or 5G, wireless networks, upgraded point-of-sale and payment terminals and software to create digital twins, or AI-powered virtual versions of each store location to help keep products stocked and know when aisles need attention from workers.
Retailers that use 5G alone at the store level see 71% higher profit growth compared to their non-5G peers, according to Colliers research.
Watch the video to see Solanki also discuss what consumers want from "the grocery store of the future."