From virtual reality to in-store navigation apps, smart mirrors to customization bars, and shopping online to picking up in-store, 2018 was a memorable year for several retail trends across the nation. Here’s what happened in the retail sector over the previous year:
An overview
An exciting new development opportunity at Capital Place has created an abundance of excitement this holiday season in the retail community. The former Southern New Hampshire University property located on Nashua New Hampshire’s exceptionally active retail strip, Route 101A recently sold for $1,500,000. The retail team at Verani Realty represented the buyer in the transaction. The preliminary plans for the redevelopment and/or development site have been well received by town officials, tenants, and the brokerage community alike.
Retailers physical locations continue to benefit from the online and interactive in-store experience. Recent studies state that opening a physical store boosts online website traffic tremendously. However, shoppers still prefer the in-store experience. Therefore, retailers combine the in-store experience with tech in order to stay top of mind to customers.
Restaurants and employee's benefit from the continued growth in the food-delivery market as the food delivery service provides nontraditional job opportunities to students, casual and full-time workers, giving them the opportunity to determine their own working hours as independant contractors. As restaurant owners are expected to continue delivering food, several technology companies are creating food-delivery apps including Grubhub, UberEATS, Postmates, etc. A recent study performed by research firm Cowen & Co. concludes that the apps are transforming the food-delivery market. Restaurant sales across the U.S. are projected to rise an average of 12 percent per year for the next four years - increasing to $76 billion.
Several retailers continue expansion as 2018 comes to an end. Consumers still prefer the in-store experience as most retail sales take place in the physical locations of stores. As technological advances and in-store experiences continue to shape the evolving retail sector, consumers are attracted to the experiences and advances at the physical locations of retail stores across the nation. Physical stores have become vital to the success of building a brand and growing an existing business.
Within the last three (3) years, Millennials (born 1982-2004) have become the largest demographic workforce group in the U.S. The perception of Millennials is that they are lazy and entitled. However, recent studies say they are actually one of the most engaged generations and their preference for meaningful work; better benefits, and greater flexibility are helping drive positive changes across their organizations.
The real estate industry is composed of two property types – residential and commercial. There are key indicators to the differences of each property type. If you are looking to buy or sell property that will be used to produce income, you’re probably dealing with commercial real estate.
The advisory team of Verani Realty is pleased to share with you our featured listings for Q4, 2018. Our inventory includes assets within the retail, multifamily, industrial, office, and business sectors and includes properties for sale as well as for lease. We encourage you to read at your leisure and contact us if you would like a complimentary opinion of value or would like to know more about the trends shaping the New Hampshire real estate environment.
As developers continue to adapt to the live, work, play evolution in communities, the live, work, retire trend advances across the nation. Retail property owners continue their efforts in attracting the senior-living sector to continue driving traffic to their centers. More than 10,000 baby boomers retiring every day by the age of 65 in the U.S., creating enhanced demand for new, amenity filled lifestyle communities.
Berkshire Hathaway HomeServices Verani Realty is proud to announce the recent successful completion of several notable commercial real estate transactions throughout New Hampshire totaling 2,679,400.00.
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