Tuesday, April 02 2019
By Alexandra Tranmer, Project Manager, Camoin Associates
The transformation of the retail industry continues into 2019. Beta-testing drone deliveries, cashier-less grocery stores and sampling new paint colors through augmented reality are just a few of the strategies that retailers are using to expand their market share and reach their coveted consumers. Yet, beyond using tactics like experiential retail and re-evaluating consumers’ purchasing preferences, retailers, and perhaps community builders at large, continue to grapple with how the right retail mix can be leveraged as a complementary asset to residents and other businesses. Although Credit Suisse predicted that 20-25 percdnt of U.S. malls will close between 2017-2022, the demand for retail as an amenity that contributes to the development and competitiveness of other markets is strong. While retail is certainly still a challenging sector for small business operators, chances for success are greatly improved when retail is integrated into the fabric of our commutes, daily lives and work patterns. This article will explore how retail is positioned as a critical component of development in large metro areas and smaller cities, and the role of the economic developer in coordinating the multi-disciplinary teams that are necessary to lay the groundwork for retail success.
Yes, retail remains in a transformative state. Yes, eCommerce has redefined the public’s expectations of how and where they can purchase everyday goods. Ecommerce sales however only comprise about 10 percent of total retail sales. The 2018 3rd Quarter U.S. Retail Sales report from the U.S. Census reports that total retail sales reached $1,340.2 billion, an increase of 0.9 percent from the 2nd quarter of 2018. Of total retail sales, eCommerce accounted for about $130.9 million, or about 9.8 percent.
Wednesday, October 14 2015
Frederick, MD -- Matan Companies, one of the region’s premier commercial real estate and development firms, announced that it has broken ground on a new 20,750 square foot, two-building Class A retail project at its Westview South campus in Frederick.
Wednesday, May 20 2015
RECon -- The deals are rolling, with attendance at RECon higher than it has been for years, as developers, retailers and others reap the benefits of an improving global economy.
Nearly 33,000 preregistered for this year’s show, about 3,000 more than last year. Thousands more are expected to register on-site for the four-day event.
“It’s a great time to be in the business,” said Robert Myers, COO of Phillips Edison & Co., which has had a busy year of acquisitions that promises only to get busier. The company, which added 2,000 square feet to its booth last year for a total 5,000 square feet has 72 people at the show and 800 meetings lined up, says Myers.
“The vibe is good,” said Robert E. Young Jr., managing director of the Dallas-based Weitzman Group brokerage, which has brought 75 executives to RECon this year, and has 375 scheduled meetings — and plenty of unscheduled ones besides. Retailers are expanding in tandem with an expanding job market, and food retailers — whether they be supermarkets or fast-food vendors — are particular hot, Young added.