After a year like 2020, it sounds foolish to claim knowledge of what the new year will look like. With the pandemic still causing uncertainty across the country, retailers are leaning in to what they’ve learned over the past 12 months and how they can bounce back better than ever. And Kohl's is ahead of the game already.
Finding the appropriate retailer to fill your space is equal parts art and science. But if it's a pizza joint you are looking for things become more clear. The pizza belt theory originated in the summer of 2013 and detailed "the area of the United States where the chance of obtaining an adequate-to-good slice of pizza from a randomly chosen pizzeria is greater than 50 percent." So taking this a step further, Retailsphere located the best expanding pizzerias within the Pizza Belt.
One of the side effects of the pandemic was a mountainous demand for bikes. The demand has yet to slow, keeping bike shops busy in retail and service repairs, suggesting a bike shop would be an ideal concept for a vacant retail space.
The craft beer boom is no secret. Many brewpubs offer the perfect place to have a drink, enjoy a good meal, and—bonus—lingering is totally encouraged! Where there’s craft beer, board games, corn hole, and other low-stakes group activities, a good time is sure to follow. Adding a brewpub to your retail space often means providing a home away from home for the local community.
There’s a signature curry chicken-joint headed to DuPont Circle and Bethesda Metro. Known for its experimental concept in 2019, opening early lunch and closing after serving 300 Butter Chicken trays, the company has seen a surge in demand that supports expansion. Still, wondering what it is? It’s Butter Chicken Company.
To kick off 2021, Bed Bath and Beyond has announced the next 43 stores that will shutter their doors, most by the end of February. Bed Bath & Beyond has previously announced a liquidation plan that will result in the closure of nearly 200 stores by 2022.
Prior to the Covid-19 pandemic, Macy’s had already announced the closure of 125 of their locations as part of a restructuring. While these recently announced 45 store closures are part of the original 125, the Covid-19 pandemic has added pressure speeding up some of these closures in underperforming malls around the country.
It could be several more months, if not years, before the shopping center industry fully rebounds from the consequences wrought by the virus and lockdowns, including a crushing number of U.S. retail bankruptcies, which in mid-November hit an 11-year high, and a significant rise in retail property loan delinquencies.
The movie theater industry has gone from concerned to terrified throughout the pandemic. As one of the industries to suffer the most during mandatory shutdowns, theaters have yet to see any return to normalcy. Movie theaters are an experience, but like shopping centers can be an experience, if the product can be delivered to the home, why go out? Consider these alternative options for an empty movie theater space.
Vegan is considered a voluntary diet choice, but it’s not just the fad diet of the year (I’m talking about you, KETO). Veganism is a lifestyle, and it’s popularity is expanding rapidly. Based on the desire to be more conscious of food sources, compassionate to animals, and overall wellness are just some of the key aspects to a vegan diet. The vegan restaurants below have more than one location, deeming these vegan restaurants savory enough to multiply their offerings.