The restaurant industry is going through some significant upheaval as demographic cultural trends have moved the target for consumer’s tastes. The last several years have seen an explosion of new restaurant concepts and categories reflecting these shifting preferences. Whether it’s the advent of fast-casual restaurants, the ongoing challenges of established chains such as Olive Garden […]
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Hip Check
The influence of Millennial shoppers is hardly a new topic, but as I recently learned at the 2014 SPECS conference, Millennials are certainly a force to be reckoned with. Within six years, Millennials will represent 1/3 of all retail spending, making it imperative that retailers find ways to engage this group. But so far, from […]
Michigan Rising?
The Midwest is always a fascinating case study, but Michigan in particular presents some interesting food for thought. On a whole, the state doesn’t have to deal with some of the overcrowding and store closure issues we are seeing in other markets. A large part of that has to do with its underwhelming growth post-9/11 […]
Achieving Closure
Store closing are already shaping up to be a big story in 2014, but while many are surprised by these closing, I don’t see it that way. In fact, I think this is exactly what we should expect from an industry in transition. Stores are constantly trying to realign themselves and do away with under-performing […]
Holiday Mediocrity a Sign of Things to Come?
The best numbers came from the Department of Commerce, which estimated that U.S. retail growth during the holiday season came in at 4.1% over 2012 sales. Other organizations released estimates that were a bit less robust: the National Retail Federation (NRF) reported 3.8% growth, the International Council of Shopping Centers checked in with 3.0%, and ShopperTrak announced that sales that were up 2.7%.
The Rougher Side of Sears
Sears Holding Corp., which includes both Sears and Kmart, has been experiencing declining sales since they merged in 2005. However, their holiday sales really raised some eyebrows, as the company reported an adjusted loss of somewhere between $811 and $914 million in 2013…
