The future has never looked brighter for retail development than it does heading into the 2021 holiday shopping season following nearly two years of, if not dark, then dim times.
“We are excited about what the extended holiday shopping season may mean for our retail tenants – especially coming off of a 2020 holiday season where in-store shopping was at worst limited and at best very inconvenient,” says Buck Cody, Principal at Endeavor Real Estate Group in Austin.
That created pent-up demand that Eric Lestin, Cushman & Wakefield’s Managing Director – Retail Lead, believes will yield a market benefit.
“Customers have been and continue to be anxious to shop and dine out and interact with others,” he says. “Many experts foresee retail sales growth to continue.”
The extension of the shopping season also has more significance this year due to supply chain restraints and overall availability concerns.
“While it is impossible to predict, or at some point understand whether or not more shopping days translates to more dollars spent, we are confident that as a general rule the more opportunities customers have to spend the better off our retail tenants will be,” Cody says. Click to read more at www.rednews.com.