“A BEGINNER’S GUIDE TO OPENING A SKATE SHOP” by Larry Lanza and Aubrey Fisch via Jenkem Mag

“A BEGINNER’S GUIDE TO OPENING A SKATE SHOP” by Larry Lanza and Aubrey Fisch via Jenkem Mag

Similar to how we cling to technology of the past, as skaters, we also hang on tight to the olden ways of doing commerce. Handshake agreements, payment in products, and brick-and-mortar retail locations are all things that many industries have moved past or at least tried to modernize. Although we’re not fully in the stone age, and modern marvels like online retail are a huge part of skateboarding today, we’re still seeing new physical shop locations pop up all the time. Opening up a skate shop requires a lot of money, time, and effort that most skaters, including myself, could never commit to. If you are a brave soul looking to venture on that journey yourself, though, we’ve got your back. We spoke to a few different shop owners who have opened their doors within the last few years to find out more about the process of opening up a skate shop in today’s economy and compiled their advice into this handy guide for future skate shop owners of the world. FINDING A LOCATION Lord Harold Samuel, a UK real estate scumbag of the early twentieth century, coined the phrase “Location, location, location.” And although trusting a British guy from the early 1900s seems like a trap, what he said rings true for skate shops. A good location is absolutely key to the success of a shop. Ideally, you’d like to find an affordable space with a lot of foot traffic from skaters and non-skaters alike. Having your shop full of yuppies and tourists might not be what you imagined, but those regular-ass people who don’t know what is cool and...
“Is an urban retail recovery underway?” by Tom Ryan via Retail Wire

“Is an urban retail recovery underway?” by Tom Ryan via Retail Wire

“It’s slow progress, but retailers’ interest in urban corridors is returning and deal volume is inching up, while shoppers, workers, travelers and diners return to city life,” according to a new report from real estate services firm JLL. Are they right? The report finds more workers heading into the office, although well below pre-pandemic rates. Since March, the average occupancy rate for security firm Kastle Systems’ 10-city average has hovered at around 43 percent of their pre-pandemic occupancy level, up from 17.5 percent at the start of the year. Recent analysis by The Wall Street Journal found cities with longer commutes have taken the biggest economic hit, while urban areas where people live closer to work have a higher return-to-office rate. Tourism has revived with Times Square and San Francisco’s Union Square seeing the biggest gains in foot traffic from last year. According to JLL analysis of Placer.ai data, foot traffic from domestic tourists is up 14 percent in New York City from 2019. San Francisco is still below 2019 levels, but foot traffic to Union Square has doubled over the past year and retail leasing interest is starting to return. Foot traffic to Chicago’s prime urban corridors is within 10 percent of 2019 levels. Miami’s hotel lodging rates are well above 2019 levels despite restrictions on international travel. The U.S. still requires pre-departure COVID-19 testing for international passengers. Meanwhile, dining is poised for a “full recovery” to support city visits as concerns ease about eating out, according to JLL. According to a Morning Consult survey, Americans’ comfort with dining out sits at 75 percent as of the end of May, 14 points higher than it was at the start of...
“Malls and Shoppers Are Back In Droves” by Bob Phibbs via The Retail Doctor blog

“Malls and Shoppers Are Back In Droves” by Bob Phibbs via The Retail Doctor blog

Don’t look now, pundits, but those dire predictions of the collapse of malls are crumbling. I visited the Garden State Plaza in New Jersey Saturday around noon. It took me about ten minutes to find a parking place. Once inside, I found the mall packed with shoppers scurrying all throughout. Smiling, laughing, and most importantly, holding bags with their purchases. There was a line 30 people deep to get into Pandora. The Shake Shack was packed. There was no evidence of curbside or BOPIS like in previous months. The only way a time-traveler would know it wasn’t the Saturday before Christmas was the lack of decorations. That’s about it. I even made this LinkedIn live video I was so overwhelmed by the traffic. (Apologies for the wankiness of the video due to wifi.) That’s not to say retailers were dealing with it all equally. At Nordstrom: fully staffed, friendly help. A sincere desire to greet and meet like before. Several shirts and a new Canali jacket. Check. At Macy’s: though much better stocked than their location I visited in Albany a few weeks ago, there was a clear lack of help and desire to do so. Fitting rooms stacked with clothes, cardboard boxes of merchandise haphazardly left on the floor, and even shipping pallets (!). The employees stood behind their plexiglass giving the appearance of being forced to work in prison rather than being delighted they had work and people shopping with them. The only courtesy I saw was from the shoppers who were congenial and engaging each other. At Neiman Marcus: no one at all to be seen...
“What Pandemic? Physical Real Estate is Having a Moment” by Andrew Flint via Total Retail

“What Pandemic? Physical Real Estate is Having a Moment” by Andrew Flint via Total Retail

Credit: iStock.com by dragana991 Online shopping might be easy, convenient and prolific, yet it hasn’t erased the need for flagship brick-and-mortar retail establishments. In fact, retail real estate is undergoing a phenomenal — and some might say surprising — comeback. As REJournals reported, roughly 60 percent of businesses with physical retail assets plan to expand their footprints in 2022. What’s driving the momentum? Retail stores offer the personalization and community that virtual shopping lacks. Plus, those stores can serve as locations to test concepts, continue customer journeys, and forge deeper bonds with patrons. Even brands with wildly successful online presences are bumping up their in-person shops. Take Warby Parker, for instance. As CNBC reported in late 2021, the eyewear giant, known primarily as an e-commerce destination, brought in 40 percent of its revenue from retail locations in 2020. Physical stores were essential for providing customers with full-service experiences. This isn’t to suggest that online buying isn’t increasing. It is. Instead of usurping physical browsing and shopping, however, e-commerce is augmenting physical shopping and fostering the growth of omnichannel retail. Omnichannel retail has been around for a while, of course, but McKinsey research shows that the e-commerce element soared in 2020 amid the pandemic. And it’s true that physical retail took hits during mandatory shutdowns. Consumers opted to stay at home and order items for delivery. Developers had trouble getting construction permits. Property managers lost tenants as they forced retailers to reduce payroll. But now, brick-and-mortar is springing back to life, thanks in part to the benefits of omnichannel retail experiences. Case in point: In-person shopping allows brands to develop deeper relationships with consumers. Even if consumers begin their journeys online, they frequently jump from...