Denver, Colorado 2021-06-16 08:00:35 –
As the country broke out of COVID-19-related restrictions and tried to regain its economic foundation, people wondered if retail in-store would bounce back or if they would permanently lose their way to online shopping. However, metro retailers have stated that they are returning to business as usual, and domestic trade associations and analysts are usually backing them up.
Businessmen say foot traffic has increased, sales have increased, and more shoppers have been out since. Coronavirus case It is declining and more people are vaccinated.
Nickle Masters, President and Chief Executive Officer of Cherry Creek North Business Improvement District, said: There are about 260 retail stores in the upscale area, about 150 of which are locally owned and opposite Denver’s Cherry Creek shopping centre.
“Cherry Creek North opened more than 20 stores in the first half of 2021, which is an extraordinary number, which is about the same as you would see in a normal year,” said Le Masters. .. “These are brand new stores, not reopenings.”
Park Meadows Senior General Manager Pamela Schenck-Kelly said she didn’t give specific numbers, but said that Loantree’s mall business was 85% of 2019, when it reported record sales. It was. And what about speculation that the pandemic has accelerated the transition to online shopping?
“My view on that is that it’s going to be the roaring Twenties in the physical store,” Schenck Kelly said in the next few years.
The· National Retail Federation I agree that the trend is rising. Revised the 2021 sales forecast from $ 4.33 trillion to $ 4.44 trillion. According to the federation, this year’s sales will grow between 10.5% and 13.5%. According to the federal government, total retail sales in 2020 were $ 4.02 trillion.
Organizations expect online shopping to remain above pre-pandemic levels, but ease from 2020 levels. In 2019, “non-store” retail sales accounted for 20% of the total, rising to 23% in 2020.
At the height of the pandemic, online purchases were convenient and safe, said Jack Kleingents, chief economist at retail organizations, in an email. But he said many people went to the store to pick up their online orders. Indicates that the shopper is returning to the direct purchase.
“In short, physical stores aren’t going away, but what you sell and how you sell them will probably be different,” says Kleingents.
It’s an experience
The experience at Gracie’s Boutique in the shopping district along South Pearl Street in Denver reflects Kleingents’ observations about people receiving online orders at the store. Owner Susan Hamilton ordered Instagram, but customers were still visiting the store, said manager Sydney Olds.
“They still want to try it, and they usually shop more,” Olds said. “I think they like the experience of returning to the store.”
Mark Gil, President South Pearl Street Association, There are about 100 businesses in the shopping district starting from Buchteln Boulevard. And the business is back, he said.
“Friday nights, and perhaps Thursdays or Saturdays, you can’t get a seat in a restaurant without a reservation or a long wait,” Gil said.
“Last year was a bit depressed,” Gil said at the farmers market in South Pearl on Sunday due to restrictions on the number of people allowed. In early June, the regulation was lifted and the market was the best day ever.
Many of Pearl’s stores were looking for ways to continue, including e-commerce, but Gil said people missed out.
“I think retailers, especially those of this type, locally owned retailers, were really overlooked,” Gil said. “I think demand is stagnant and people are really returning to it.”
This experience was enjoyed by Ashley Hagerty at Highlands Ranch during his recent trip to Park Meadows.
“I went shopping for the first time in a long time,” Hagerty said.
Hagerty said she and Mary Hagerty, St. Louis’ mother-in-law who was with her, were both fully vaccinated and felt comfortable going out into public. Hagerty did a lot of online shopping during the pandemic and was ready to adventure and explore.
“When I shop online, I feel like I’m looking for something, but I’m looking around here,” says Hagerty.
Schenck-Kelly said he thanked e-commerce companies for providing retailers with a way to stay productive during the most difficult times of the pandemic. She said Amazon has two stores in Park Meadows.
Prior to the pandemic, retailers were considering incorporating more digital commerce, but closures and restrictions pushed for faster integration, said the Retail Research and Education Center at Indiana University Kelly Business School. Said John Talbot, director of.
“I think the post-COVID world is one in which large, well-capitalized retailers invest in stores and digital engagement and strive to work together well,” says Talbot.
“Peel off the band-aid”
As the pandemic accelerated existing trends such as business digitization, existing inequality widened and system gaps were highlighted, said Mike Ferrufino, president and CEO. Colorado Hispanic Chamber of Commerce.
The· Coronavirus outbreak Has a disproportionate impact on low-wage workers and people of color, many of whom are engaged in jobs that cannot be done in remote areas and are exposed to COVID-19.The· Unemployment rate Between blacks and Hispanics, it remains higher and higher than whites heading for a pandemic. The overall unemployment rate in May was 5.1% for whites, 7.3% for Hispanics, 9.1% for blacks and 5.5% for Asians.
“I saw the COVID-19 remove the band-aid from all existing parallax and amplify them about 100 times,” Ferrufino said.
The· Infection and mortality High in the Hispanic community and lower vaccination rates than in other communities. According to Denver Public Health, Hispanics make up about 47% of COVID-19 cases and 30.5% of deaths in Denver, which accounts for about 30% of the population.
So far, only 16% of Hispanics have been vaccinated about once. 70% of the total Denver’s white population is 68%. State-wide data 9.7% of Hispanics Received at least one shot compared to 68.4% of the white population.
Hispanics make up about 21% of Colorado’s population.
Ferfino emphasized that while chambers of commerce and other organizations work with states and local governments to increase immunization and provide resources, communities are broad and diverse in a variety of needs.
Economically, pandemics pose a challenge to about 50% of Hispanics who have no banking ties, making access to COVID-19 bailouts difficult.Still, Hispanic-owned businesses are one of the fastest growing companies, with analysis showing that the country’s 62.5 million Hispanics are about. $ 1.7 trillion purchasing power, Ferfino said.
Lindsay Salazar, owner of Tigre Radio, a Spanish broadcaster based in Greeley, has worked hard to keep the lights on during the pandemic. She planned with a banker and applied for and obtained a loan for a paycheck protection program.
“Within the first six weeks of the pandemic, we lost about 40-50% of our revenue. It was crazy. The phone was ringing non-stop: cancel, cancel, cancel,” Salazar said. “We needed to create a new marketing package so that small business owners could afford to continue advertising. We know it’s important to them and to us. I will. “
Salazar, whose father opened the station in 1997, has shrunk due to the closure of several Hispanic-owned businesses, including mom and pop car dealerships. She has never seen a storefront nearby.
But Salazar, like Ferfino, is worried about low Hispanic vaccination rates. She talked to health officials about not requiring people to register shots or access online. She said not everyone had access to the Internet and that undocumented people were afraid to be deported.
I wanted help … now!
During the recession caused by the pandemic, Colorado recorded a record number of new business filings.The· Colorado Secretary of State He said the total number of new business submissions in the first quarter of 2021 was 44,740, an increase of 32.2% from the same period in 2020.
Also, during the pandemic, Tony Jordan has seen an increase in business. He is the general manager of State & Liberty, a men’s clothing store in Cherry Creek North. He moved to Denver in March 2020, working as a stylist at Nordstrom and eventually taking over State & Liberty.
“When we came here in May 2020, we were one of eight to nine stores, and now we have fifteen,” Jordan said.
Traffic has skyrocketed about 2.5 times since State & Liberty moved around the corner to a new site, Jordan said. He said people are enthusiastic about the social experience of face-to-face shopping.
At the same time, Jordan, like many other employers, has a hard time finding workers. According to Jordan, the company is “a few dollars” above Denver’s minimum wage, but people often don’t want to work a particular time or day.
“I’m actually hiring you while you say you want to leave,” Jordan said, telling some of the conversation.
Aperture, Especially in the restaurant and hospitality industry, 9.3 million Americans were unemployed in May but are still unfilled. Fear of being infected with COVID-19, lack of childcare, and desire for a better job have been suggested as reasons.
Park Meadows’ Schenck-Kelly is one of those who said that in addition to state benefits, a temporary $ 300 weekly federal unemployment benefit was a major factor. She said employers are offering employment bonuses and higher wages to attract workers. She said it would be catastrophic if federal benefits were expanded.
Indiana University’s Talbot recognizes the challenges retailers face in getting their jobs done. But he doesn’t blame the unemployment allowance. He said people were looking for new jobs that went ahead or were better paid, night shifts, strange shifts, and unruly people.
“I think businesses are forced to pay people something that can support their families,” he said.
Colorado retailers bullish on brick, mortar as pandemic restrictions fall away Source link Colorado retailers bullish on brick, mortar as pandemic restrictions fall away