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Retail & Commercial Services

Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/spending-on-the-rise-as-kids-of-all-ages-head-back-to-school-this-season/

Back-to-school spending has been underway since mid-July, in some states even earlier, as families brace themselves for a full year of learning, sports events, and extracurricular activities.

Timing is everything regarding back-to-school shopping, and most budget-conscious parents advise starting early to get the best deals on products and accessories. Most (91%) of consumers say promotions influence their back-to-school purchases. Nine in 10 say inflation and rising prices will impact their pu
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/lend-borrow-swap-your-way-to-a-new-wardrobe/

Renting everyday clothing might not be top of mind for fashionistas, but it can be an affordable alternative for eco-conscious consumers.

Gen-Z has a reputation for being the most environmentally-woke generation, and yet despite cost-of-living increases, their obsession with fast fashion has not tempered. And while some take stock of how and where their hard-earned dollars are spent, it makes them more likely to entertain alternate options to maintain a fashion-forward wardrobe.

One business m
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/u-s-retailer-industry-foot-traffic-analysis-july-2023/

The retail industry thrived in July as foot traffic increased by 3.5%, and core sales grew by 3.8% over June.

Apparel store visits grew by 31.2% over the month but only saw a modest increase in sales of 0.9% as consumers limit themselves to purchasing apparel they want or need.

Sales at grocery stores rose by 1.5%, a much lower rate of increase than in the recent past, thanks to slower inflation and increased price competition between major supermarkets. At the same time, visits remained stabl
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/big-bigger-better-may-be-the-future-of-retail/

Retailers feel the tug-of-war for consumer attention as they explore new store formats and streamline operations to adapt to changing shopping behaviors. Online retailers like Amazon have almost made it too convenient for consumers to shop for household items, with many leaning toward affordable brands as households endure a cost-of-living crisis.

With 80% of the U.S. population residing in urban areas, retailers are examining their inventory to rethink how they market themselves while landlord
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/u-s-retail-segment-analysis-august-2023/

A Taste of Change: Evolving Consumer Preferences in the Foodservice Industry

The foodservice industry significantly affects the retail sector, occupying 935 million square feet of retail inventory in the U.S. and influencing consumer behavior and market trends. Restaurant technology innovations, such as self-service dining, personalization, and artificial intelligence, are further reshaping the industry, catering to evolving consumer expectations for seamless and tech-driven dining. Foodservice
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/u-s-retailer-industry-foot-traffic-analysis-june-2023/

The retail industry continues to expand as June foot traffic increased by 1.7%, and sales grew by 0.2% over May.

Grocery visits declined by 1.5% in June while spending increased by a very modest 1.3%, largely thanks to the heat coming out of inflation and price competition between players intensifying.

Despite a decrease in total restaurant visits, food service sales increased by 9.9% this month thanks to higher average spending per customer and a shift towards more profitable takeout and deli
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/the-changing-landscape-of-the-luxury-market/

Luxury brands have had quite a year with retailers jettisoning from lackluster consumer spending to plans for global expansion. According to Bain & Company, the global market for luxury goods is expected to grow by 3%-8% in 2023 alone, and analysts suggest that it will reach nearly $370 Billion in revenue by 2030. China’s economic rebound, the return to European tourism, and a burgeoning market in Japan contribute to the speculative growth.

Retailers in the luxury market have experienced up to
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/what-shall-we-eat-the-food-halls-of-america/

Food tourism celebrates “traveling for a taste of a place to get a sense of place.” Enticed by the gastronomic adventures of Somebody Feed Phil and Stanley Tucci’s Searching for Italy, the post-pandemic traveler seeks authentic culinary experiences to connect more deeply with travel environments. Nearly 95% of travelers classify themselves as food travelers, positioning the culinary tourism industry to reach a projected revenue of $1.8 billion by 2027.

Over the past ten years, food halls have e
Knowledge Leader - Colliers Commercial Real Estate Blog •

https://knowledge-leader.colliers.com/anjee-solanki/u-s-retailer-industry-foot-traffic-analysis-may-2023/

Retail fundamentals improved in May as foot traffic increased by 6.6%, and sales grew by 0.3% over April.

Discounters saw a 3.4% increase in foot traffic as the Memorial Day holiday offered discounts and bargains while helping to stimulate retail spend in May.

Restaurants notched a third straight month of sales gains, conveying that services spending remained buoyant, while quick-service restaurants remain appealing to consumers as the leaders in average visits.

Pressure continues on middle m
Knowledge Leader - Colliers Commercial Real Estate Blog •

Foot Traffic Indicators Toward Fast Fashion Expansion

Recent shifts in consumer behavior have aligned with economic sensitivities on inflation around the cost of goods and services. The behavioral adjustments have sparked a slow shopping movement, with consumers concentrating on value-driven purchases. These cost-conscious consumers’ intent on maximizing their dollars weigh the pros and cons of sustainability and affordability as they consider how to engage in retail therapy.
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