Downtown Philly Dominates Office Construction
Philadelphia’s office construction scene is buzzing with activity, with a whopping 3.7 million square feet of office properties currently under development in the region. This significant construction surge has taken center stage in the third quarter of the year. Let’s look at the numbers: Downtown Domination: The majority of this construction boom is concentrated in […]
AI Will Drive $194 Billion in Holiday Sales
While global online sales are projected to grow by 4%, reaching $1.19 trillion in November and December, U.S. sales are expected to grow only by 1%, totaling $273 billion. To counter the sales slowdown, retailers are turning to AI-driven product recommendations, which are predicted to influence $194 billion in online sales during the holiday period. […]
9 Philly Development Projects We’re Hearing About in 2023
Where construction is moving ahead (or is not) shows us how resources and interests are being distributed in both public and private arenas. It’s a glance into the future of a city. So what does the future hold for Philadelphia, a city with the development at its core? Here are some of the projects we’re […]
Dollar Tree Will Reshape Discount Retail
A recent Forbes article discussed Dollar Tree’s latest announcement concerning its plan to move beyond its traditional $1 pricing strategy and expand into higher price ranges, including $3, $4, and $5 products. This decision comes as Dollar Tree’s competitor, Dollar General, has already ventured into similar territory. The article argues that Dollar Tree’s move is […]
Meet Gen Alpha – Retail’s Newest Consumers
Generation Alpha, used to having access to massive amounts of data, is the next big restaurant demographic. A recent article in QSRMagazine.com discusses the importance of the Generation Alpha cohort. Also known as the “Glass Generation” (due to their devices) or “Gen C” (for COVID), they were born between 2010 and 2025 and are already […]
Philly’s Retail Space at New Lows
In a recent CoStar article, Brenda Nguyen points out that despite concerns about the impact of online shopping and the pandemic, Philadelphia retailers have seen a different outcome in terms of leasing performance. The retail space available in the Philadelphia region currently stands at 18.7 million square feet, which is 20% lower than the peak […]
Irish Drones Are Heading This Way
One of the world’s most successful drone delivery companies will be expanding to mainland Europe and the United States in 2023. Manna Aero has already done over 100,000 drone deliveries in multiple locations in Ireland and is trending to hit over 1,000 deliveries per day in individual dense urban markets. But it won’t be instantly […]
Work-From-Home Ends for Millions of Americans
Share of businesses with workers on-site most of the time neared pre-pandemic levels in 2022, Labor Department finds. A recent Wall Street Journal article by Gwynn Guilford reported on how rare working remotely has become, only a couple of years after the COVID-19 pandemic forced millions of Americans out of their office spaces. According to […]
Dick’s Bets on House of Sport
Dick’s Sporting Goods is trying to score with customers who want an engaging, hands-on in-store experience by pushing a big expansion of its House of Sport concept. Dick’s has been closing its remaining Field & Stream stores, with plans to convert some of them into its House of Sport concept or large-format Dick’s stores by […]
Fiscal Retail Sales Up 9.4%
Recently released financial numbers for the year 2022 from retailers (most of whose fiscal years ended in January) shows that US sales were up 9.4%, not adjusting for inflation. However, even including inflation (which increased 6.4% in the past 12 months), retail sales were still significantly increased over 2021. Most categories showed positive increases over […]