Thursday, April 18, 2019

Despite ‘Retail Apocalypse,’ U.S. Grocery Store Openings Jumped 30 Percent in 2018

NREI
While a new report by investment firm USB estimates 75,000 more U.S. stores could close by 2026 as the shift to online shopping expands, it appears that the grocery sector continues bucking that trend.

The report points to future closings of apparel stores, consumer electronics retailers and home furnishing stores, noting that online sales are expected to make up 26 percent of all retail sales in 2026, up from about 16 percent today.

However, new grocery store openings increased by 30 percent in 2018 over 2017, with more than 17 million sq. ft. of new space added to the market, according to a recent report by real estate services firm JLL.. . . more