retail Archives - Page 2 of 11 - Viewpoints - Coldwell Banker Commercial

Looking over a Shopping Cart at an Aisle in the Store

May 3, 2024

2024 Consumer Trends Impacting Retail

Thanks to COVID and inflation, retail has undergone significant transformations over the last few years, impacting consumer preferences and behaviors. Whether it is dining or shopping trends, the retail landscape is constantly evolving, that has been especially true in 2024. Placer.ai recently published a white paper titled, 'Meeting 2024’s Consumer,' that explores consumer trends and behaviors in 2024 and how that is impacting retail overall.One particular trend that stood out in this report amidst the tumultuous retail landscape has been the rise of Discount & Dollar Stores. Pre-pandemic expansion initiatives by industry leaders, like Dollar General and Dollar Tree, laid a strong foundation, positioning these essential retailers as an affordable and reliable option during the initial stages of lockdowns. While Discount & Dollar Stores were expanding their presence throughout the US, these retailers also diversified their food and drink offerings to grocery shoppers during peak stay-at-home orders. The expansion of the physical footprint of Discount & Dollar Stores, the grocery selection, and affordable prices suddenly put them in direct competition with Grocery & Superstores. Although visits to Grocery Stores and Superstores significantly outnumber visits to Discount & Dollar Stores, the rise in popularity should not be ignored. While Discount & Dollar Stores continue to rise in popularity, the Superstore sector is forced to navigate shifting consumer preferences and behaviors. For example, with products like the Stanley Cup going viral online, Target made the decision to venture into sports merchandise with the Stanley Cup partnership, underscoring a nuanced understanding of consumer desires and trends that extend beyond the realm of essentials. Similarly, the allure of Costco and other membership clubs among affluent demographics highlights a burgeoning demand for premium offerings amidst a landscape dominated by budget-conscious consumers.As you can see in the chart below, Costco and Target dominate the competition in the Superstore space, attracting the most affluent clientele, despite inflation and high costs of living. The success of these retail giants not only signals the presence of a consumer base willing to shop beyond basic necessities but also underscores these retailers' ability to stay adaptive and agile in an ever-changing landscape. Costco's ability to offer both premium options and affordability through bulk purchasing creates a unique capability to cater to the needs of a diverse audience, straddling the middle ground between budget-conscious shoppers and consumers who are willing to spend more on high-end foods, drinks, and products. In essence, it showcases their capacity to effectively navigate the nuances of consumer preferences, thus solidifying their position as leaders in the retail landscape.For investors, staying attuned to these shifts isn't just about chasing the latest trends; it's about recognizing the underlying currents that drive consumer decision-making. By deciphering the evolving preferences and spending patterns of consumers, investors can identify lucrative opportunities and allocate capital strategically. Whether it's recognizing the resilience of Discount & Dollar Stores amidst economic uncertainties or discerning the growth trajectory of niche segments within the Superstore domain, these insights aim to guide investors towards informed investment decisions based on consumer patterns.

Apr 2, 2024

Ecommerce Sales in the US: What to Know

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.

Mar 5, 2024

Healthy Appetites Drive Dining Sector Trends

Location analytics, visitation patterns, demographic insights, and psychographic trends are shaping the trajectory of the dining sector in 2024.

Feb 27, 2024

The Retail Opportunities of Stadiums

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.

Jan 9, 2024

Consumer Trends & Celebrities Shaping the Retail Landscape in 2024: Part 2

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.

Dec 12, 2023

The Food Hall Boom: Exploring the Surge of Food Halls Beyond Urban Centers

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.

Nov 7, 2023

Brighter Days Ahead for Retail Sector ... Thanks to 2023 Holiday Sales

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.

Oct 31, 2023

2023’s Top Performing Retail Hubs: Consumers Create New Paths to Retailers

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.

Oct 17, 2023

C-Store Trends & The Brands Leading the Way

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.

Oct 10, 2023

THE TREND REPORT

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.