Page 2
— Retail Properties Quarterly — February 2018
www.crej.comContents
Letter from the Editor
A
few themes run throughout
this issue of Retail Proper-
ties Quarterly and, for the
most part, these observa-
tions are positive for the
retail market.
For example, I learned in an arti-
cle authored by experts from HFF,
on Page 16, that for every company
closing one store,
2.7 companies are
opening one. Also,
in 2017, there was
a net gain of more
than 4,000 stores
opening, the arti-
cle states.
Further, holiday
sales were up locally and nation-
ally. According to a market update
on Page 6 from Marcus & Millichap,
95 percent of all holiday shop-
pers bought some merchandise
from brick-and-mortar stores, and
spent a total average of $842 on
gifts this season. But that’s not all
– these shoppers also splurged on
nongift-related items during the
same period, spending an average
additional $261 on entertainment,
personal services and food-related
purchases.
While these statistics bode well,
one negative statistic also caught
my attention while researching this
issue. The retail industry lost the
most jobs from November 2016 to
November 2017 in the 15 industries
the U.S. Bureau of Labor Statistics
tracks. However, this statistic alone
isn’t news – retail lost the most jobs
the previous year as well. What is
new is the gender disparity. Despite
overall job loss in the retail indus-
try, men gained retail jobs, accord-
ing to a study by the Institute for
Women’s Policy Research. Women’s
share of all retail trade jobs fell
from 50.4 to 49.6 percent, the study
found.
“We’ve seen many news reports
of the decline in retail jobs, but
few have noted that the picture in
retail is much different for women
and men,” said a statement from
Heidi Hartmann, IWPR president.
“The majority of the losses in retail
comes from general merchandising
stores, where men have actually
gained jobs.”
She goes on to acknowledge that
there is very little known about
what’s driving this trend – for
example, could it be women are
exiting retail jobs to enter higher-
paying industries or could it be
because men sell durables and
families are finally catching up on
delayed purchases on cars, furni-
ture and household appliances? If
this is the reason, Hartmann won-
ders if durables are the future of
general merchandise stores.
I’m curious to follow employment
numbers in the next few months
as retailers realign after the holi-
day season. In addition to watching
the gender component, I’ll also be
keeping my eye on how the mini-
mum wage increase continues to
impact retailers. As of January, the
new minimum wage in Colorado is
$10.20.
Michelle Z. Askeland maskeland@crej.com303-623-1148, Ext. 104
Tracking employment 2018 will bring nimble retailers opportunities Raymond Cirz and Carolyn Martinez Strong holiday sales propel healthy expectations Ryan Bowlby and Drew Isaac Retail growth on deck for Colorado Springs Whitney Johnson New rooftops energize Colorado Springs retail Jay Carlson Investors’ herd mentality is beginning to shift Peter Keepper and Michael J. Salzman As retail landscape changes, look to positive trends Jason Schmidt A collection of investor sentiments and trends Chad Murray, Mark Williford and Andrew Yaroma 4 ways to make a national owner hyperlocal Rick Turner Are we witnessing an apocalypse or resurrection? Allen Ginsborg Industrial space can support new retailer needs Ryan Good Space activation key to create successful centers Bryan McFarland A new retail rises as consumer lifestyles change Matt Writt From click to cha-ching: Enticing online shoppers Ilene Vivinetto-Suter Small businesses thrive in Cherry Creek North Brian Phetteplace 4 6 8 10 12 14 16 18 19 20 21 22 23 24Imagining new possibilities.
Creating lasting communities.
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