Surety Bonds

The Future of Retail Shopping


Will we ever enjoy shopping inside stores again? Experts say: yes! Here are predictions that entrepreneurs, shoppers—and anyone eager to get out and about—will appreciate.

 The Experiential Trend

 Good news: experts are predicting that post-pandemic, the experience of “brick and mortar” shopping will be focused on the fun of discovery, entertainment, and socializing. Now that so many people have figured out how to use online shopping for essentials and stocking up, in-person shopping is likely to be ever more focused on offering unique, fun experiences.

Even before the pandemic hit, the emergence of new retail trends had begun. Fast Company reports that trendsetting brands were creating an “immersive shopping experience that wasn’t really about selling products at all, since that could happen online.” 

Think about, for example, the success of Eataly. Launched in 2007, revenues had reached $559 million before the pandemic. Essentially a high-end grocery store and food court, it was the experience of strolling around, trying something new, maybe hearing some music or stopping for a glass of wine with friends along the way that made the experience unique.  Luggage and fitness brands have also had success with immersive experiences—knowing that the actual product purchase could happen most easily online—especially once consumers know the specifics of what they want.

 As Fast Company sums up:

 This devastating year has forced brands to cut out the most unpleasant parts of shopping, like waiting in line and replenishing staples in your pantry. When stores do finally come back, the savviest ones are going to focus on the delightful, pleasurable parts of shopping, like discovering exciting new products and enjoying in-store entertainment. If you picture sampling new cheeses while watching a string quartet perform, you’ve got the right idea.

 If you have begun fermenting post-pandemic retail plans, let Colonial Surety Company help you get going—anywhere in the country. Whether your plans involve revitalizing your retail business—or you have plans to launch a new one, Colonial Surety Company can help you quickly and easily obtain the Sales Tax License Bond that is necessary for many states.

 Calling Entrepreneurs in Every Community

 As shopping is re-imagined across the country, interest—and development—is also shifting from “cookie-cutter” malls to community-based spaces where people can mix and mingle, hear a lecture, walk in the park—and perhaps purchase their new outdoor gear or health products along the way. One example  of this kind of space is the Seaport District in South Boston:

 This…was built in 2017 by WS Development as a mix of apartment buildings, offices, restaurants, green spaces, and small shops….Samantha David, WS Development’s COO, says, “We had been seeing how shopping behavior was changing, but during the pandemic, the pace of change seems to have accelerated from years to months,” she says. “People were tired of shopping in generic, cookie-cutter malls. They wanted spaces that feel like they have a soul because they’re connected to a community and the person who works in the store knows your name.”

 Get Ready To Open Your Doors!

Chances are, if you are in the retail business, you will collect sales taxes—and need the related bond. Sometimes, sales tax license bonds are simply referred to as tax bonds. These are surety bonds that are frequently required by state or local governments prior to issuing a license to do business. Essentially, a sales tax license bond guarantees your business will comply with applicable laws, including submitting and reporting the relevant sales taxes on time.

 As a leading, national surety bond provider, Colonial offers a unique, self-service, digital way for entrepreneurs—and everyone— to obtain a required license and permit bonds quickly and efficiently. Colonial’s portfolio includes over 4,000 instant, digital bonds, covering a wide range of business and professional needs. For example, In addition to Sales Tax License Bonds, Colonial provides Retail Services License Bonds and  Retail Stores License Bonds–and many more! In just a few clicks you can:

  • Get a quote online
  • Fill out your information
  • Enter your payment method.
  • Print or e-file your bond from anywhere.

 Founded in 1930 and licensed for business in every state, Colonial Surety Company is an A (Excellent) rated insurance company by A.M. Best and U.S. Treasury listed.

 Obtain Your Sales Tax License Bond Today!