{"id":1004108510,"date":"2014-12-01T12:31:33","date_gmt":"2014-12-01T20:31:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004108510"},"modified":"2022-12-08T01:27:24","modified_gmt":"2022-12-08T09:27:24","slug":"hooray-for-holiday","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hooray-for-holiday\/","title":{"rendered":"Hooray for Holiday!"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

Experts in the retail sector of the commercial real estate industry believe it\u2019s going to be a good holiday season–a really good holiday season. They can practically smell it.<\/p>\n

\"Greg<\/a>

Greg Maloney, JLL Americas Retail Group<\/p><\/div>\n

\u201cI believe this will be the best Black Friday weekend and Christmas season in the last seven years. The reason being that there\u2019s a lot of optimism in the air,\u201d Greg Maloney, president & CEO of commercial real estate services firm JLL\u2019s Americas Retail Group, told Commercial Property Executive<\/i>. \u201cThe consumer confidence index is at an all-time high since late 2007. People are feeling better. Gas prices are down. There\u2019s just this air of excitement of people thinking things are better. Maybe they\u2019re not but people want to believe that they are.\u201d<\/p>\n

JLL anticipates an increase in sales of approximately 5 to 6 percent, and expects that both virtual and real stores will see the traffic. Reports of the brick-and-mortar store\u2019s death have been greatly exaggerated.<\/p>\n

\u201cThe consumer is going after either a product or a deal, and whether they get that online, in the store, order it online and pick it up in the store, order it in the store and have it shipped to them–whatever, they don\u2019t really care,\u201d Maloney added. \u201cThey look at it as, I want to get a good deal or a good value and whether it\u2019s on line or in the store, I\u2019m going to get it. Doorbusters–literal doors, not the online ones–are as popular as ever this season, and it\u2019s no mistake that nearly 30 percent of respondents to a JLL survey noted that they would open their stores on Thanksgiving Thursday for the start of the Black Friday weekend.<\/p>\n

Although online shopping continues to rise, the retailers\u2019 non-virtual doors remain wide open during the holiday season because the year-end retail extravaganza is about more than a great sale. \u201cPeople want to be seen, they want to be around,\u201d Maloney said. \u201cCan you imagine saying, let\u2019s have a great day shopping tomorrow, let\u2019s get on our computers for three hours and then maybe we can go have lunch? That\u2019s not how it works. You\u2019re going to say, let\u2019s meet here, let\u2019s shop, let\u2019s go have some lunch and then let\u2019s go over here, maybe we\u2019ll catch a movie, we\u2019ll catch the deals at night. It\u2019s a lifestyle thing and that\u2019s not going to change.\u201d<\/p>\n

And what of the wireless generation? Well, while they may appear to be physically attached to a couple or three mobile devices, they are also driven by the almighty shopping experience. As Maloney explained, \u201cYou have to realize that the Millennials grew up in a mall, they grew up shopping. Online is just an additive for them; they\u2019ve got a great place to research the product, a great place to look for deals, but ultimately, they\u2019re going out to the mall. Even if they\u2019re shopping online, they\u2019re probably walking through the mall and doing it on their mobile device.\u201d<\/p>\n

\"Jeff<\/a>

Jeff Green, Jeff Green Partners<\/p><\/div>\n

The holiday shopping season extends through New Year\u2019s Day, but the after-Christmas sales may not be as good as they once were. Jeff Green, president & CEO of retail real estate consulting firm Jeff Green Partners, told CPE<\/i> that with new controls in place and software programs, retailers have been keeping a much more trained eye on inventory over the last few years, which could leave some consumers with less merchandise to grab during the final discount days of December. \u201cYou could see some out-of-stock items a couple of days before Christmas and then that translates into having less merchandise after Christmas, so actually, the after-Christmas sales are becoming a little less relevant,\u201d he added . \u201cThey may be good sales, but you won\u2019t find them on a huge variety of merchandise.\u00a0 For years, if a retailer\u2019s inventory controls weren\u2019t great, they weren\u2019t quite sure what they were selling and when they were selling it, so there was a lot more merchandise post-holiday than we\u2019ve seen in the last couple of years.\u201d<\/p>\n

As for sales numbers during Holiday Season 2014, Green agrees with his fellow experts that there will certainly be a notable increase, but he points out that the real story will emerge around February 2015, when retailers begin to announce their earnings. He noted, \u201cEveryone is so value focused and sale-price focused and doorbuster focused that the question is, is anybody going to buy anything at full price? I doubt it. So the bigger concern is not sales, it\u2019s profit. That will be the story we really have to watch, because if profits are down, that may affect the expansion plans of certain retailers. That\u2019s big gauge for them.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Experts in the retail sector of the commercial real estate industry believe it\u2019s going to be a good holiday season–a really good holiday season. They can practically smell it. <\/p>\n","protected":false},"author":969,"featured_media":1004108513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21749],"tags":[],"class_list":["post-1004108510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-retail"],"acf":[],"yoast_head":"\nHooray for Holiday! - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hooray-for-holiday\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hooray for Holiday!\" \/>\n<meta property=\"og:description\" content=\"Experts in the retail sector of the commercial real estate industry believe it\u2019s going to be a good holiday season--a really good holiday season. 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