This Month in Retail
Retailers are trying to square off against the strong gains being made by e-commerce marketplaces – that are offering difficult-to-beat prices.
However, most are holding up as consumers demonstrate that price does matter, but so does the retail experience.
The rebound of retail and of stores is seen in retail vacancies data. The US national retail vacancy rate was 5.4% in the first quarter, near the lowest level experienced in the last two decades, per Cushman & Wakefield. In the UK, shopping center vacancies fell 0.5% in 2023, while vacancies at retail parks was only 4.3%. There’s been a positive uptick in rents on new deals across high streets and shopping centers in Q1 2024, according to Savills data.
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Priced To Sell
“Customers are shopping, but remain cautious,” said Amazon CEO, Andy Jassy, during an earnings call.
Winning Strategy: “Offering everyday low prices in this uncertain economic environment” that consumers can rely on – rather than promotional activity, said Mr. Jassy.
