In 2019, Walmart was the highest-grossing retailer, making more than twice what its closest competitor, Amazon, earned in retail sales. Amazon may have defined the last decade of retail, but Walmart has comfortably maintained its dominance in this new environment of omnichannel selling and tech-based solutions. By harnessing its substantial physical footprint, continuously experimenting with new innovations, and partnering with external companies to develop its services, this retail giant hasn’t just stayed ahead of the curve in this volatile climate; it is setting the curve for its competitors.
When Apple closed its stores in March, the company didn’t lose profits as was expected; instead, its revenue grew. Net sales in the third quarter were up 10% in comparison to 2019’s Q3 and their gross margins increased by 11%.
It has always been crucial for commercial landlords to have thriving tenants instead of fighting battles with difficult tenants on the brink of eviction. This need has often become clearer as the Covid-19 pandemic continues, often highlighting more troublesome tenants.
In our recent survey of shopping center managers across the country, we asked them which retailers had been most difficult to deal with during the Covid-19 pandemic. Unsurprisingly, 28% of the respondents told us a restaurant had been their most difficult tenant.
Great news. A big national-credit retailer wants a shopping-center space that's currently occupied by struggling mom-and-pop tenants who are barely hanging on in a lease-less, or "at will" basis. The timing seems right to issue these month-to-month occupants their proverbial walking papers and quickly shoo them off the premises to free up the square footage.
With the increase in retail bankruptcies, the largest mall owner in the U.S. has been taking some severe hits due to the coronavirus (COVID-19) pandemic. With many anchor department stores defaulting on their leases and leaving vacant units, the group is reportedly in talks for a way to recover from the ailing department stores.
E-commerce driven, direct-to-consumer retail has boomed over the last decade. Companies like Warby Parker, Dollar Shave Club, and Glossier have disrupted their respective industries, offering design forward products, as well as clever and beautiful marketing, at a lower than expected price point.
Finding the right retailer to complement your center’s tenant mix consists of more than crossing your fingers, then plunging into an internet search for likely candidates. You need data, and plenty of it. This means you also need access to a quality database.
Whether you are backfilling a vacant big box, or attempting to lease up your just-opened regional lifestyle center, finding and securing the right tenant for your space can be a challenging process.