Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
The Census Bureau recently reported that total ecommerce sales in the US soared by 7.2% year-over-year in Q4 2023, reaching an all-time high of $325 billion. According to the latest data, US retail trade sales, excluding ecommerce, edged up by only 1.5% year-over-year in Q4, reaching $1.58 trillion.
Location analytics, visitation patterns, demographic insights, and psychographic trends are shaping the trajectory of the dining sector in 2024.
Sports stadiums not only host sporting events but also concerts and other shows, creating enormous opportunities for a mix of uses including retail, dining, and advertising.
Placer.ai’s research in their '8 Retail Trends to Watch in 2024' whitepaper highlights the rise in popularity of second-hand apparel amongst consumers. This shift represents a significant number of consumers who value a unique, cost-friendly, and planet-safe clothing experience.
The burgeoning popularity of food halls, extending beyond urban centers to suburban landscapes, is not just a culinary trend but a lucrative investment opportunity that savvy investors should closely monitor.
Deloitte has recently released holiday sales projections for the retail sector, and the 2023 holiday season is poised to strengthen it further. According to Deloitte's annual holiday retail forecast, holiday retail sales are expected to increase between 3.5% and 4.6% in 2023.
In-person store visits substantially increased in the latter half of 2023, largely attributed to the phenomenon known as "revenge shopping." This concept captures people's enthusiasm for shopping, driven by the sense of deprivation they experienced during the pandemic.
While some convenience stores still derive their revenue from gas and automotive services, others have repositioned themselves as destinations where patrons can enjoy specialty coffee, grab a quick dinner, or conveniently acquire a selection of grocery items on their way home from work.
The modern retail landscape is undergoing significant transformations spurred by evolving consumer behaviors, technological advancements, and economic shifts. Looking ahead to 2023 and beyond, it is crucial to understand the four key themes shaping malls' future and their relevance.
Retailers in the United States are defying historic lows in retail space availability by planning to launch 1,000 new stores this year, underscoring the sector's resilience amid commercial real estate challenges.