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Retail Recovery: What's changed...and how must we respond?

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Over the past year, Colliers Real Estate Management Services has published a series of reports to provide our clients with unique insights on the recovery of office, industrial, and retail assets. 

Retail Recovery: What’s changed…and how must we respond? is the third installment in our series on how the pandemic has affected retail assets and what to expect in the years ahead. We surveyed a diverse array of tenants across our 12 million square foot national retail portfolio. 

Key takeaways:

  • The retail industry is poised for greater stability, as total consumer spending between March 2020 and May 2021 was only 2% less than what was forecasted before the pandemic.
  • The success of the enclosed mall will require refinement of the merchandise mix and improved access to necessity retailors, as those with a grocery store managed to keep an average of 7% more consumer foot traffic throughout the pandemic than malls without one.
  • Brick and mortar retail performs better in suburban and tertiary markets, as compared to urban markets; at some points reaching a difference of +10% vs -24% in foot traffic compared to the start of the pandemic. 
  • The number of retail tenants offering an e-commerce platform doubled during the pandemic (from 27% to 58%), yet 77% of tenants still say profitability is highest when customers shop in-person.

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Retail Recovery: What's changed...and how must we respond?

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For More Information, Please Contact:

Jane Domenico

SVP & National Lead, Retail Services

Toronto Downtown

Jane is Senior Vice President & National Lead, Retail Services for Real Estate Management Services (REMS) in Canada and her focus is on the strategic growth of REMS’ retail portfolio across Canada and on making Colliers’ Retail Asset Advisory Services synonymous with retail expertise in the Canadian marketplace. She will work with other areas of Colliers’ businesses when additional retail real estate expertise is required. Under her leadership, Jane leads the retail platform for Colliers Canada, ensuring that we continue to provide innovative and value-added solutions to our clients through the Retail Asset Advisory Services platform.

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