According to Jason Baker, principal with Houston-based retail brokerage Baker Katz, mid-level retailers that don’t offer a unique or private label product are going to get hurt more and more in the near future.
by Natalie Dolce
From Macy’s and JCPenney’s to Payless, without a doubt, it is clear there is a “shake up” underway and very few are bulletproof. That is according to Jason Baker, principal with Houston-based retail brokerage Baker Katz.
He recently told GlobeSt.com that the strong will get stronger and the weak will get weaker—or close their doors altogether. “Mid-level retailers that don’t offer a unique or private label product—like Kohl’s and JCPenney—are going to get hurt more and more in the near future. Kohl’s is at least making an attempt to adjust by rightsizing their stores, but it’s unclear if that will really address the issues they’re facing.”
And as a result of these trends, he adds, “everyone is scratching their heads as it relates to retail and the future of the industry. However, in markets like Houston, retail occupancy and total retail square footage are both at all time highs.”
As for what the future holds? “In spite of some of the negative announcements among retailers, the forecast is really pretty positive from my perspective,” he explains. “While online is and will continue to be a threat, you have to look at the other side of that equation as well. Amazon recently revealed another 1 million-square-foot distribution center in the Houston market—which means thousands of jobs and more consumer confidence and spending.”
Meanwhile, he says, online retailers are continuing to move to bricks-and-sticks, establishing, at a minimum, a showroom-type concept to complete the customer experience they’re offering online.
Archives
- July 2022
- June 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- August 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- October 2019
- September 2019
- August 2019
- May 2019
- April 2019
- February 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- December 2014
- November 2014
- August 2014
- July 2014
- May 2014
- April 2014