IPA Finds Optimism Amid Retail Weakness
Despite the spotty return of shoppers to nonessential stores, brick-and-mortar retailers have several reasons to hope for strong holiday sales, according to a new fourth-quarter report from Institutional Property Advisors.
Numerous store closings and the ongoing shift toward online shopping continue to reshape brick-and-mortar retail, according to IPA’s special report, Beyond the Global Health Crisis: Retail.
Malls have long been struggling to maintain occupancy levels, and the health crisis only accelerated the trend, according to the report, which also notes that older malls remain more vulnerable.
Nonstore retailers saw a 22 percent increase in retail sales from February to September, “and a significant portion of that shift could be retained after the pandemic is over,” according to IPA’s study.