Connect with us

Headlines

Hot Regional Retail Hubs

Four U.S. metro areas where physical retail is thriving – and why.

mm

Published

on

Santana Row shopping and dining district, San Jose, CA. PHOTOGRAPHY: Sundry Photography/iStock.com
Santana Row shopping and dining district, San Jose, CA. PHOTOGRAPHY: Sundry Photography/iStock.com

Consumer demand for in-person shopping remains strong, but foot-traffic data indicates that brick-and-mortar retail performance in 2023 is exhibiting significant regional variations. So, where are the hot spots?

In its latest white paper, real estate market-intelligence firm Placer.ai identifies four regions in the U.S that exhibited strong year-over-year retail growth between January and May 2023 and drills down into what’s driving that momentum.

The regions and a thumbnail description of their main strengths are:

  1. New York: Resurgence of retail corresponds to the return-to -office movement.
  2. San Jose, Calif.: Upscale and luxury retailers are attracting the desired customers.
  3. New Haven, Bridgeport and Hartford, Conn.: New residents lead to surges in home-improvement retail.
  4. Washington, D.C.: Direct-to-Consumer brands and physical retailers are seizing opportunities to capture a younger audience.

“While the retail world has faced significant challenges in recent years, plenty of regional bright spots abound,” the report notes. “From a symbiotic office-retail relationship to the importance of placing affordable and high-end chains where they are welcomed, adapting to local needs and preferences can drive retail success.“

Click here for more from the white paper.

Advertisement

Advertisement

SPONSORED VIDEO

When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

Promoted Headlines

Most Popular