© 2024 Real Estate Consultants of Colorado, LLC
Austin, TX
Q1 2022 retail store sales rose to new [pre-pandemic] records across most major categories including fast food, beauty supplies, specialty food and specialty retail according to new International Council of Shopping Centers data. Fitness, craft, haircare, movie theaters and department stores have not yet rebounded.
Sales per square foot are a metric used to measure the relative cost of operating a bricks-and-mortar store; when sales per square foot are higher, the relative cost of running the facility goes down. While this is good news for landlords, who use sales per square foot as a metric to justify rental rate increases, this is also strong news for retailers: unlike what headlines have claimed over the past years, retail is not dead after all.
Q1 2022 retail store sales rose to new [pre-pandemic] records across most major categories including fast food, beauty supplies, specialty food and specialty retail according to new International Council of Shopping Centers data. Fitness, craft, haircare, movie theaters and department stores have not yet rebounded.
Sales per square foot are a metric used to measure the relative cost of operating a bricks-and-mortar store; when sales per square foot are higher, the relative cost of running the facility goes down. While this is good news for landlords, who use sales per square foot as a metric to justify rental rate increases, this is also strong news for retailers: unlike what headlines have claimed over the past years, retail is not dead after all.
© 2019 Real Estate Consultants of Colorado, LLC