Holiday Shopping Pulled In Two Directions
As the echoes of Black Friday weekend fade, the retail realm experiences a temporary lull, with shoppers regrouping and procrastinators feeling the pressure to check off their holiday shopping lists. In this dynamic post-Black Friday landscape, we explore the recent economic indicators, global market shifts, and the evolving relationship between online and in-store retail. Consumer […]
Retail Sales (The Week Before Thanksgiving)
This holiday season is pretty hard to predict. Even though there are a lot of signs that things might not be so hot, people are still spending money. We don’t know what will happen – will people run out of money before or after the holidays? Or will they just keep spending forever? Will they […]
2023 Holiday Sales Growth Expected
The National Retail Federation’s annual holiday forecast predicts that holiday retail sales are anticipated to increase between 3% and 4% this year, reaching a record-breaking total of over $957 billion. The NRF suggests that if sales reach the upper end of their forecast, Americans could potentially spend up to $30 billion more than they did […]
The New Wegman’s Isn’t Quite a Supermarket.
In a recent interesting article, Forbes discusses the newest Wegman’s, a brand-new supermarket opening in Greenwich Village this week. This event is already sending ripples through the Manhattan real estate and commercial landscape, given that a full-fledged supermarket is a rare convenience for residents of this vibrant borough. However, it would be remiss to categorize […]
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 […]