Gatewood Retail News
Dan Berthiaume Senior Editor, Technology The resale market is expected to double in the next five years. According to the ninth annual “2021 Resale Report” from online resale platform ThredUp Inc. and retail analytics firm GlobalData, secondhand apparel, shoes, and accessories is now a $36 billion market, projected to double in the next five years to $77 billion. Resale is expected to grow 11 times faster than firsthand retail clothing sales over the next five years. In addition, resale sales are expected to be more than twice the size of fast fashion sales by 2030, with two in five resale consumers saying they’re replacing fast fashion purchases with secondhand clothing. In 2020, 33 million consumers bought secondhand apparel for…Read More >>
Source: Chain Store Age Writer: Marianne Wilson Dick’s Sporting Goods is running fast these days. The nation’s largest sporting goods retailer has had a busy few months, adding soccer shops to namesake locations, remodeling Golf Galaxy stores and opening clearance stores. But its most talked-about initiative has been the debut of an experiential retail concept more than two years in the making: Dick’s House of Sport. The new banner made its debut in April, at Eastview Mall, in the Rochester suburb of Victor, New York. The 100,000-sq.-ft. store — the company’s largest to date — — offers customers a hands-on shopping experience. It’s filled with multi-sports activities that customers can participate in, inside and out. “House of Sport is based…Read More >>
Source: Study Finds By: Chris Melore Many shoppers now swearing off big box stores after seeing beloved shops shutter NEW YORK — Few people have escaped the financial impact of the coronavirus pandemic and that’s especially true for local ‘mom and pop’ shops. A new study finds half of Americans have witnessed their favorite local businesses close down because of COVID-19. A survey of 2,000 people reveals 68 percent personally know a local business owner impacted by the pandemic. According to respondents, the most commonly impacted businesses include cafes (62%), retail shops (58%), gaming shops (55%), and book stores (54%). While a majority of Americans (71%) want to see small businesses in their community thrive, nearly two-thirds (62%) have witnessed…Read More >>
HoustonRetail May 6, 2021 Christie Moffat, Bisnow Houston Drive-thrus were the life raft that kept many fast-casual and quick-service restaurant chains afloat during the most difficult days of the coronavirus pandemic. As major brands continue to come up with new and inventive ways to expand and improve their drive-thru offerings, more traditional dine-in restaurants are also pivoting to incorporate drive-thru accessibility into their models, according to retail experts. NewQuest Properties Vice President Austin Alvis said that drive-thrus have become an absolute requirement for new store growth. The industry has recognized that the drive-thru is not just a driver of revenue, but also a protective mechanism in times when things go wrong. “Everybody operated almost an entire year with no dine-in business, so it really changed the…Read More >>
SOURCE: Retail Dive Staff Writer: Daphne Howland Last year was a challenge like no other for the retail industry. COVID-19 upended people’s existence worldwide, threatening human life and undermining the global economy. Job and wage losses took a toll. Even those able to stay healthy and financially secure have faced disruptions to daily life, upsetting work, school and other routines. All of this has had implications for retailers. Specialized retailers and department stores were forced to close for months while grocers and mass merchants were allowed to stay open as essential businesses. But for all of them, supply and demand were undependable last year. Meanwhile, nervous consumers have expected stores to be clean and safe or to offer e-commerce and pickup services…Read More >>
April 20, 2021 (Chicago) – The REALTORS® Land Institute (RLI) and National Association of REALTORS® Research Group have released the results of their latest Land Market Survey. The survey shows that while the COVID-19 pandemic battered the commercial real estate market in 2020, the land market held up to the pandemic’s severe blow, according to survey participants. A 3% increase in land sales contrasts starkly with a 40% drop in commercial sales transactions of properties or portfolios of at least $2.5 million. Land sales prices were also on the rise, with respondents reporting a 2% increase on average in 2020. In contrast, the Green Street Commercial Price Index, an appraisal-based index of the properties held by REITS, indicates that commercial real estate prices…Read More >>
Source: NOLA.com Ian McNulty/ Staff Writer Waiter Vincent Composanto carries a tray of appetizers from the kitchen to guests at Galerie de Galatoire, an expansion of historic Galatoire’s Restaurant, Saturday, May 8, 2021, in the French Quarter. The space is designed as a private dining venue for flexible use. STAFF PHOTO BY SCOTT THRELKELD From its historic main dining room decked in tile and mirrors, Galatoire’s Restaurant connects to its adjacent steakhouse and bar and wends across different upstairs dining areas. Now, it also extends a block away, where a new Galatoire’s experience is taking shape. The Bourbon Street landmark is developing a new restaurant called Galerie de Galatoire, located at 211 Royal St., directly across from the Hotel Monteleone. The doors on Royal Street for Galerie…Read More >>
SOURCE: Hotel and Leisure Advisors Writer: Joe Pierce The once-in-a-century pandemic has caused hoteliers to endure a firestorm that decimated the hotel and leisure industries. The growing COVID-19 cases across the U.S., as well as government restrictions on travel that further stress demand, continue to leave the hotel industry significantly behind pre-pandemic levels in terms of revenues, profitability and valuations. Gateway cities such as New York, Chicago, and Los Angeles are experiencing some of the highest delinquencies in the nation as international travel and tourism in the U.S. remains at a near standstill. Other markets, such as Houston, have been especially hard hit due to the struggles in the oil industry. Nationally, CoStar’s hospitality analytics firm STR reports that 2020…Read More >>
SOURCE: CNBC Lauren Thomas Published: March 18, 2021 KEY POINTS For the first time in years, retailers plan to open more stores than they close. From Ulta Beauty and Sephora, to Dick’s Sporting Goods, Five Below and TJ Maxx, businesses are rebounding from the Covid pandemic and looking to expand. Many businesses see an opportunity to sign shorter leases, which can allow them to experiment with different formats. Year-to-date, retailers in the U.S. have announced 3,199 store openings and 2,548 closures, according to a tracking by Coresight Research. For the first time in years, retailers across the country are planning to open more stores than they are closing. From Ulta Beauty and Sephora, to Dick’s Sporting Goods, Five Below and TJ Maxx, businesses are rebounding the…Read More >>
SOURCE: CNN Writer: Parija Kavilanz New York (CNN Business)As the pandemic drags on, big chains like Target and Nordstrom are looking for ways to keep consumers coming back to their stores. One go-to strategy is the store-within-a-store concept. It’s a way for one retailer to join forces with another by setting up a pop-up shop within their stores. Industry analysts say the approach has benefits for both parties. For instance, department store Kohl’s (KSS) is adding as many as 200 Sephora mini shops inside of its stores in 2021 as a way to expand its beauty and cosmetics category. For Sephora, the deal helps the retailer expand its market to Kohl’s shoppers. Meanwhile, Target is opening mini Apple shops in a handful of its…Read More >>
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