U.S. retail sales survived the summer doldrums, increasing 6.6 percent in August from the same period in 2017, which is more than double the rate of inflation! While e-commerce remains strong, sales in brick-and-mortar stores continued at a steady pace, especially at some of the larger retailers, including Target and Walmart, which reported the highest increase in in-store traffic and same-store sales in at least a decade and beat earnings expectations for the third quarter.
Fueling consumer spending is low unemployment, higher wages and the new tax cuts that are leaving workers with more money in their take-home pay. In addition, retailers are adapting to changing consumer behaviors and leveraging technology with their physical footprints to improve the customer experience and boost sales – both online and in their brick-and-mortar stores. This recent news coupled with a favorable outlook for year-end holiday sales bodes well for investors in retail properties.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.