In conjunction with ICSC’s Western Division Conference in San Diego, below is a snapshot of retail real estate performance in major Western markets.
The University of Michigan Consumer Sentiment Index rose to 84.1 in early September, the highest in a year. Spending on food services and hotels is up. Retail sales in August showed a healthy increase. And perhaps no U.S. region is benefiting more from the continued improvement of the economy and consumer spending than the Western U.S.
The effect the credit crisis and global recession has had on shopping center development has been apparent across the world. There can be absolutely no doubts now that the retail development landscape has changed to varying degrees depending on geography over the last few years. This is not likely to alter significantly in the near future as shopping center owners and developers grapple with the challenges of integrating an increasingly competitive virtual world, where technology is driving a structural change in the retail market and how shoppers want to shop.
The internationalization of the retail and food & beverage sectors continues to accelerate. C&W has been tracking these developments in more than 100 locations in 54 countries. While global consumer habits may be converging, global markets themselves are still characterized by many differences—retail formats, costs, legislation, marketing, planning constraints, opening hours, market-entry routes, and property tenure regulations are just a few. This is the territory that C&W’s Global Retail Guide seeks to demystify.
Within the guide, we provide a range of crucial retail and consumer market indicators, list the foreign and domestic movers and shakers, and describe the prevailing retail scene, particularly major shopping zones. We also outline the key trends and food & beverage offerings in each city as well as an overview of standard leasing terms.
This is only our first phase for the Global Cities Retail Guide. Over the coming weeks and months, we will be adding numerous new country and city overview, so visit often.
We encourage you to contact any of our global retail professionals to learn more about the exciting trends in international retailing and to request information on new cities that you do not see listed. We look forward to hearing from you Until then, happy reading. VIEW NOW
Today, US Retail Services is releasing 12 Trends for 2012, a look at the political, retail and real estate trends that we see affecting our business in the coming year. A copy of this Business Briefing is attached to this email and will also be available on the C&W Knowledge Center. This piece is an overview. Each month, we will address one of the 12 trends in more depth, as we gain perspective from market developments.
Based on the research we did for this piece, 2012 looks to be an exciting year with many moving parts. As always, we welcome your feedback on the piece and the individual issues as you see things arise in your own markets.
To coincide with ICSC’s Southeast Conference currently underway in Atlanta, this week’s Retail TrendWatch focuses on retail sales performance in the broader South Region (the “South”) relative to other regions of the country.
Retail sales growth in the South (defined by the U.S. Census Bureau as the southeastern quadrant of the U.S. from Delaware to Texas), is expected to closely mirror the U.S. average over the next few years as the nation’s economic recovery progresses.
Last week’s Retail TrendWatch focused on improving consumer credit quality and its impact on retail sales. In an increasingly bifurcated market, where the luxury and discount sectors continue to strengthen while the middle-market struggles, the outlet sector is succeeding by targeting aspirational shoppers generally looking for luxury or higher end items at value prices.
Read the entire report: Retail TrendWatch
Consumer credit quality has improved throughout 2011, and at a much faster rate than many anticipated. Household financial obligations continue to decrease allowing consumers to allocate a higher percentage of their disposable income to debt pay down. Coupled with more stringent consumer credit qualification requirements, consumers have been able to reduce overall loan delinquencies, decreasing the overall number of bankruptcy filings.
Read the entire report:Retail Trend Watch