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US retailers set to launch 1,000 new stores. Shifts post the 2008 crisis and evolving consumer behaviors buoy retail real estate against commercial headwinds.
Despite challenges in commercial real estate, the retail sector is showing resilience. This year, there's a projection of a net opening of 1,000 new stores in the U.S. Factors behind this resurgence include:
Key Data Points:
Other Noteworthy Trends:
The narrative of e-commerce eclipsing physical outlets hasn't materialized as forecasted. Many digitally native brands now recognize the allure of brick-and-mortar establishments. There’s also a distinct migration from urban centers to suburbs, fueled partly by the pandemic-induced remote work trend.
On the Horizon: While retail boomed in 2022, some moderation is noted in 2023. Retail investment has seen a 48% drop in the first half of this year. Nonetheless, dollar stores remain dominant nationwide, with Dollar General planning to open around 1,000 new stores.
Yet, not all retail spaces thrive. While high-end malls report strong recoveries, their lower-end counterparts grapple with significant shifts in consumer preferences and geographical challenges.
Source: WSJ
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