V12Data.com | January 8, 2019
I’ve spoken before of the “bricks and mortar” retail store presence continuing to shrink with the on-going onslaught of internet shopping being one primary factor. We saw major retailer like Sears, Mattress Firm, David’s Bridal and a dozen others file for bankruptcy in 2018. Unlike stores like Target & Walmart, both of whom became very aggressive in targeting the on-line browser as well as the changing tendencies of the typical “shopper”, these businesses filing for bankruptcy failed to adapt to the changing market place.
One incredible statistic is the amount of retail building square footage in the U.S. as compared to similar developed countries around the world. According to Credit Suisse, the U.S. has approximately 21,528sf of retail space per 1,000 people. The next highest? Norway at 9,967sf per 1,000 people. These numbers certainly speak volumes about the competitive nature of the U.S. in general however in particular as it pertains to the retail sector of commercial real estate.
I thought it would be of interest to provide some statistics on shoppers in general when it comes to retail, hence the attached.
Larry Dietz, an associate broker with Saurage Rotenberg Commercial Real Estate, LLC, has over 30 years of Sales, Marketing and Public Relations experience. He is a Designee member of the Certified Commercial Investment Member Institute (CCIM) and CCIM Louisiana Chapter; a member of the Commercial Investment Division of the Greater Baton Rouge Board of REALTORS® (CID); as well as an affiliate member of the National Association of REALTORS® (NAR). He is a licensed real estate broker in Louisiana and Mississippi.
Saurage Rotenberg Commercial Real Estate, LLC is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).