{"id":15505,"date":"2017-08-04T11:06:16","date_gmt":"2017-08-04T15:06:16","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?p=15505"},"modified":"2017-08-11T06:53:36","modified_gmt":"2017-08-11T10:53:36","slug":"sector-focus-necessity-retail","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/sector-focus-necessity-retail\/","title":{"rendered":"Sector Focus: Necessity Retail"},"content":{"rendered":"

\"didyouknow_sponsorcorner-_blog\"<\/p>\n

Sector Focus: Necessity Retail<\/strong><\/h1>\n

\"Passage<\/p>\n

 <\/p>\n

August 1, 2017 | Beth Glavosek | Blue Vault<\/p>\n

Despite the huge rise and popularity of online shopping, there\u2019s still a need for bricks and mortar stores. According to a recent study, by 2025, the share of online grocery spending could reach\u00a020% of the total market, representing $100 billion in sales. However, as one supermarket executive puts it, \u201cYou can\u2019t forsake the 80% of consumers who are shopping in your physical stores.\u201d[1]<\/a><\/p>\n

Thus, the need for what is known necessity-based real estate, or necessity retail, persists.<\/p>\n

Population growth means consumer growth<\/strong><\/p>\n

On May 7, 2017, the U.S. population clock was projected<\/a> to cross the 325 million threshold. By 2060, the total population is expected to reach nearly 417 million.[2]<\/sup><\/a><\/p>\n

A growth in the population means growth in both current and future consumers. While economic conditions may dictate how much people have available to spend on luxury or nonessential items, there will always be a need for everyday goods and services, whether it\u2019s food, apparel, appliances, or personal care items.<\/p>\n

Bricks and mortar still relevant<\/strong><\/p>\n

While major grocery chains frequently provide the ideal anchor for a desirable retail asset, other popular retailers include discount clothing and shoe stores, warehouse stores (bulk shopping), sporting goods, and specialty or organic food stores.<\/p>\n

According to the National Retail Foundation, despite the dot-com boom of 20 years ago and scales tipping slightly toward e-commerce, the impact is not readily noticeable in STORES Magazine<\/em>\u2019s annual list of the Top 100 retailers<\/a>.[3]<\/a> According to the report, the nation\u2019s largest mass market retailers all still rank in the top 10, including Walmart, Costco, and Target. \u201cThe remaining top 10 retailers are arranged in pairs: two traditional supermarket operators (#2 Kroger and #10 Albertsons); two home improvement retailers (#4 The Home Depot and # 9 Lowe\u2019s); and two drugstore chains (# 5 CVS and #6 Walgreens\/Boots Alliance),\u201d the report says.<\/p>\n

Their success points to the fact that consumers are still pushing shopping carts and not just filling them online. Kiplinger has also reported<\/a> that six mega retailers are still standing up to online giants like Amazon.<\/p>\n

In conclusion, the need for destination-based, necessity-driven real estate will likely persist even in the age of point-and-click. After all, it\u2019s difficult to try on those pants you\u2019ve been eyeing or sniff the freshness of the produce from the comfort of your living room.<\/p>\n

[1]<\/a> Becky Schilling, \u201cAre you ready for the digitally engaged shopper?\u201d Supermarket News<\/em>, January 30, 2017.<\/p>\n

[2]<\/a> U.S. Census Bureau, May 5, 2017.<\/p>\n

[3]<\/a> STORES Magazine<\/em>, June 26, 2017.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Despite the huge rise and popularity of online shopping, there\u2019s still a need for bricks and mortar stores. According to a recent study, by 2025, the share of online grocery spending could reach 20% of the total market, representing $100 billion in sales. However, as one supermarket executive puts it, \u201cYou can\u2019t forsake the 80% of consumers who are shopping in your physical stores.\u201d<\/p>\n","protected":false},"author":1985,"featured_media":8813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-15505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reitindustryupdate"],"acf":[],"yoast_head":"\nSector Focus: Necessity Retail - Blue Vault<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/qa.bluevaultpartners.com\/sector-focus-necessity-retail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sector Focus: Necessity Retail - Blue Vault\" \/>\n<meta property=\"og:description\" content=\"Despite the huge rise and popularity of online shopping, there\u2019s still a need for bricks and mortar stores. 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