{"id":1004487556,"date":"2020-11-05T18:02:33","date_gmt":"2020-11-06T02:02:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004487556"},"modified":"2020-11-06T06:03:02","modified_gmt":"2020-11-06T14:03:02","slug":"an-ailing-retail-sector-gets-creative-for-the-holidays","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/","title":{"rendered":"An Ailing Retail Sector Gets Creative for the Holidays"},"content":{"rendered":"

Traffic in malls is running at 25 percent to 30 percent of what it used to be, according to retail analysts who don\u2019t expect a significant increase during the holidays. The smart retailers are starting the season early. For some, that will mean rolling out the deals before Halloween and then continually unveiling new promotions throughout the season.<\/p>\n

READ THE DIGEST<\/a><\/p>\n

The retail sector has been severely impacted by COVID-19, with a number of stores and chains that were struggling before the pandemic closing their doors for good, said Chuck Breidenbach, managing director of MDC Retail Property Group at Mountain Development Corp.<\/p>\n

\":<\/a>

Eastern Hills Mall in Buffalo was acquired and redeveloped in 2003 by Mountain Development Corp. The one-story, 1,000,000 square foot property features a combination of retailers, eateries and service providers and is currently being redeveloped in partnership with Uniland Development Company into a town center.<\/p><\/div>\n

According to Breidenbach, landlords and tenants will need to work together to identify the retail concepts that are worth saving on, worth investing in, and worth applying rent reductions to in order to keep them alive and try to grow them in the future.<\/p>\n

\u201cThis will pass. We just don\u2019t know long it will be. The retailers that have leveraged their data and information and have really good supply chains and supply chain ration times are the ones that are probably going to survive this,\u201d said Breidenbach.<\/p>\n

\u201cRetail hasn\u2019t grappled with anything like the challenges it faces this year, and the holiday retail season will be affected as retailers adjust to changing shopping behaviors,\u201d said John Morris<\/a>, CBRE Retail Leader.<\/p>\n

Morris expects the sector will see modest growth this holiday season. \u201cBrick-and-mortar sales will be challenged and overall consumer confidence is tepid. However, e-commerce sales will hit new highs in 2020.\u201d<\/p>\n

According to research published by CBRE, overall holiday retail sales are expected to grow less than 2 percent year-over year, a slower rate than previous years. Holiday retail sales have averaged 4.1 percent growth per year since 2010.<\/p>\n

\"CBRE<\/a>

CBRE released research on holiday retail sales showing total retail sales and online retail growth. Chart courtesy of CBRE<\/em><\/p><\/div>\n

Meanwhile, CBRE predicts e-commerce sales will surge to a record growth rate of more than 40 percent in November and December. This number would be up from the previous holiday uptick of 14 percent, recorded in 2019. With this growth in e-commerce sales, one of the biggest shifts for both retailers and consumers in 2020 will be rising carrier surcharges and escalating delivery costs during peak season.<\/p>\n

In the new normal, if consumers procrastinate in their holiday shopping, they could face a surge in shipping prices and delayed delivery in the final rush, in addition to limited inventory.<\/p>\n

Retailers will also rely on \u201cin-and-out\u201d shopping\u2014a new strategy that allows consumers to examine merchandise and talk with sales associates in the store, while pushing payment, gift-card purchases, wrapping and returns to outdoor spaces. <\/p>\n

The pop-up store, curbside pickup and the \u201cbuy online, pick up in store,\u201d models have increased by more than 500 percent during the pandemic, and will continue to attract customers who want to minimize their time spent in the store. These help expand retailers\u2019 reach and support social distancing.<\/p>\n

\n

Sector Insights rotates among office\/medical office, industrial, retail, multifamily, self storage and hotel\/hospitality.<\/em><\/p>\n

Read the November 2020 issue of CPE.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Facing unprecedented challenges, retailers are embracing e-commerce and an extended shopping season.<\/p>\n","protected":false},"author":894,"featured_media":1004487562,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1521,21749],"tags":[32789,42755,34745],"class_list":["post-1004487556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital","category-retail","tag-cbre","tag-john-morris","tag-mountain-development-corporation"],"acf":[],"yoast_head":"\nAn Ailing Retail Sector Gets Creative for the Holidays - 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\/an-ailing-retail-sector-gets-creative-for-the-holidays\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An Ailing Retail Sector Gets Creative for the Holidays\" \/>\n<meta property=\"og:description\" content=\"Facing unprecedented challenges, retailers are embracing e-commerce and an extended shopping season.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-06T02:02:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-06T14:03:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/E_Retail-Eastern-Hills-Mill-copy.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Mosher\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/\",\"name\":\"An Ailing Retail Sector Gets Creative for the Holidays - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/E_Retail-Eastern-Hills-Mill-copy.jpg\",\"datePublished\":\"2020-11-06T02:02:33+00:00\",\"dateModified\":\"2020-11-06T14:03:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1c9a21b40f0bcd757c66219797993b0f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/an-ailing-retail-sector-gets-creative-for-the-holidays\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/E_Retail-Eastern-Hills-Mill-copy.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/E_Retail-Eastern-Hills-Mill-copy.jpg\",\"width\":800,\"height\":620,\"caption\":\"Eastern Hills Mall in Buffalo was acquired and redeveloped in 2003 by Mountain Development Corporation. 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