Shopping Centers Can Expect a Roaring 20s-Style Boom!
Posted July 16, 2021
We might not see flappers or bootleggers headed down Highway 36, but there’s a good chance guests will be doing The Charleston when they arrive at our shopping center.
Rumor has it that retail businesses are in for more than a comeback this year; we’re looking at a roaring 20s-style boom. In a recent CNBC article, Jay Schottenstein, CEO at American Eagle Outfitters, forecasts that due to a renewed confidence among shoppers post-pandemic, paired with an increase in customer spending, retailers can expect a major rebound in the next decade.
Schottenstein is not alone in his assessment either. According to Forbes, retailers are already investing their marketing spend into ad campaigns this year to help harness the renewed excitement for in-store shopping that we’re witnessing today.
If that wasn’t enough, The National Retail Foundation has also projected an increase in retail sales for 2021 (estimated to be between 6.5% and 8.2%—a year-over-year growth we haven’t experienced in 17 years). This, alone, certainly helps paint a brighter future for shopping centers across the country.
The Future of Shopping Centers
Experts agree that in-store shopping is back, but the experience may look a little different:
The NRF expects consumers will flock to stores once they’re able and are assured it’s safe to shop…most consumers will be looking for local businesses that offer hybrid solutions [including] BOPIS (buy online, pickup in-store) and curbside pickup will stay in high demand.SCORE
We recently shared how retail marketing has evolved in the past year, and how our shopping center continues to provide new initiatives and services to ensure our guests feel confident and enjoy a personalized shopping experience.
The moment guests arrive, they know they’re in for something special. Though our shopping center offers modern-day conveniences like in-store and curbside pickup, we also play host to experimental events all year round. These events delight the senses, engage the mind, and transform our guests’ trip to the mall into a one-of-kind experience.Senior General Manager, Lisa Crain
At Rosedale, we believe we’re already seeing a comeback, and invite you to be part of this new roaring 20s-style era.
It might be hard to compare the 1920s to 2020 and beyond, but there is no question that people are eager to get back to the hobbies and activities they missed out on last year. It’s fair to say there is a renewed appreciation for the simple pleasures in life, such as in-store shopping, and this can greatly impact your business.Executive Vice President of Leasing, Holly Rome
Is Your Business Ready?
Make sure you don’t miss out on what’s next for retail in 2021 and beyond. Centrally located between the Twin Cities of Minneapolis and Saint Paul, Rosedale welcomes over 14 million guests annually—and we expect this number to keep on growing.
To get started, contact our leasing office today to hear about our flexible leasing options or to schedule a tour of your new space.