Despite the major wallop that was unleashed by the pandemic, retail continues to be about location, location, location. As a result, retail's recovery has varied widely in the past several months for many reasons but primarily because of where the store is located.
Placer.ai recently examined the retail space to pinpoint how the recovery unfolded toward the end of 2020. Since mid-June, overall retail visits were down between 11% and 15%. And while this number seems relatively strong, it is buoyed by the improved performances of sectors such as home improvement and grocery.
Another key takeaway is the wider retail landscape was posting steady improvements heading into the holiday season, prior to the resurgence of COVID cases in November.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
