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US Retailers Optimistic
America's retailers are feeling positive and forecasting steady growth through a period of change, according to the Shopping in America: Spring 2005 Retailer Survey. The survey was conducted on the opening day of the annual ICSC convention in Las Vegas.
The survey is conducted for real estate investment trust The Macerich Company by agency August Partners, and includes the views of retailers representing 54,475 specialty shops, restaurants and other retail units with 36 brands nationwide. Respondents expect an average 4% increase in same-store sales for 2005 and a 5.4% rise in sales for the upcoming holiday, versus the same period last year.
'Retailers are forecasting a positive outlook and a steady economy at a time of new trends within the retail industry' according to Garry Butcher, Macerich's VP of Marketing and Consumer Research. Around two thirds (65%) predict the economy will 'stay about the same' throughout 2005, and a slight majority (54%) select enclosed shopping centers as the most productive retail format for their company, despite the rising popularity of outdoor and lifestyle centers.
Retailers were asked about the consumer trends likely to have the most impact on retailing within the next five years, and selected the ageing population (24%), Internet shopping (24%), the rise in the tween market (17%) and in the multicultural market (17%) as the ones to watch. In terms of global issues impacting the American consumer, respondents were most likely to mention the cost of living (27%), gasoline/energy (25%) and unemployment (20%).
The 2005 Spring Retailer Survey was conducted at the ICSC (International Council of Shopping Centers) Spring Convention in Las Vegas, while the Shopping in America national consumer survey uses shopper intercept in regional shopping centers throughout the US. Details of both can be found via www.shoppinginamerica.biz
The Macerich Company focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the US and holds the majority of L.P. Macerich, which owns c.77m square feet of gross leaseable area consisting primarily of interests in 76 regional malls. The Macerich Company is on the web at www.macerich.com
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