2017 holiday insights = bright retail future 2018 - by Faith Hope Consolo

January 23, 2018 - Shopping Centers
Faith Hope Consolo,
Douglas Elliman

We saw a happy holiday for retailers! According to the latest Mastercard SpendingPulse report which details holiday sales from Nov. 1 through December 24 across all payment types, “sales increased a record 4.9% this year reflecting the largest year-over-year increase since 2011 and an indication of solid consumer confidence. E-commerce sales soared 18.1% over last year thanks in part to a late-season surge. Shoppers appear to be focused on their homes and on ways to make spending time at home more enjoyable; electronics and appliances sales rose 7.5%, the most in 10 years, and home furnishings and home improvement sales each rose 5.1%, as did home improvement. Sales rose moderately for specialty apparel and department stores. Retailers’ early season promotions paid off with significant sales jumps in the first three weeks of November, but late sales surges contributed to the good season for retailers. December 23, also known as Super Saturday, was second only to Black Friday in terms of single-day spending, particularly in certain categories, like jewelry, where sales rose 5.9%. Early reports suggest the holiday season was a banner year for retailers, ushering in vigorous sales activity even in categories, like apparel, that have been struggling for several quarters now. Shoppers are flush with confidence, as unemployment has ebbed and the housing market has remained solid, making consumers bold in their purchases.” 2018’s retail climate is sure to be customer focused and new and exciting retailers will reinvent the journey to purchase.

On Madison Ave., De Grisogono jewels debuted their new store at 700 Madison Ave. John Paul Ataker is ready for shopping at 804 Madison Ave. J. Press has returned to the Ave. with their opening at East 44th St. in the ground level of The Yale Club. 

On Fifth Ave., Vans has signed a lease for their first Fifth Ave. flagship; number 530.  American designer Todd Snyder has a new pop-up shop at 108 Fifth Ave. an updated version of their original NYC space, City Gym 2.0 featuring brands collaborating with Snyder including Champion, New Balance, and PF Flyers.

In Rockefeller Center American Girl has relocated their Manhattan flagship featuring an expanded American Girl Salon, the signature American Girl Café and the Create Your Own Design Studio, 75 Rockefeller Plaza. Most exciting is iconic FAO Schwarz returning to the City in fall 2018 at 30 Rockefeller Plaza, joining American Girl, the Lego Store and Nintendo nearby; making Rock Center the next hot spot for kids. Warby Parker eyewear unveiled 1258 Ave. of the Americas and their other shop 185 Columbus Ave. has also opened.

On the Upper East Side, The Shoe Box created a new shop at 1277 Third Ave. 

On Manhattan’s West Side, the forthcoming Hudson Yards development has announced recent additions to The Shops & Restaurants at Hudson Yards with Cartier, Van Cleef, Piaget and Neiman Marcus upping the luxury ante. Fashion brands to look forward to; AG Jeans by Adriano Goldschmied, Aritzia, Athleta, Banana Republic, Coach, Lululemon, Stuart Weitzman and Tory Burch. Expect two-story mini anchor concepts by Zara and H&M. Beauty collection; The Body Shop, Kiehl’s, Jo Malone, MAC, NYX, Origins, Sephora and Urban Decay. I anticipate even more to come with this stellar lineup!

In Times Sq., Levi’s moving to a two-level flagship at 1535 Broadway from number 1501. Gap Inc. has just opened their largest store in the world; side-by-side Gap and Old Navy flagships at 1530 Broadway. The National Football League (NFL) and Cirque du Soleil Entertainment Group opened the four-floor NFL Experience at W 47th St & 7th Ave.

In SoHo, off-price retail chain T.J. Maxx coming to 483 Broadway between Broome and Grand Sts. Athleisure brand Alo Yoga will be opening at 96 Spring St. British menswear Thom Sweeney has opened its first United States shop at 362 West Broadway, its first location outside of Mayfair, London. Squishable, a NYC-based indie toy company, has opened a pop-up shop just in time for the holidays at 430 West Broadway. Miami-based specialty retailer The Webster finally opened its much-anticipated city store at 29 Greene St., the fifth location outside Miami after Costa Mesa, California and Houston, Texas.

In TriBeCa, Red Wing Heritage a new pop-up shop at 116 Franklin St. with the entire men’s and women’s collections, care products, limited edition styles, accessories, as well as the new leather goods line will be available under one roof in this shop in NYC.

In Nolita, Everlane opened their first store ever at 28 Prince St. 

In the West Village, menswear brand Grayers will be opening its first freestanding pop-up store at 304 Bleecker St. 

In the Meatpacking District, Stephen F coming to 36 Little West 12th St. Sneakersnstuff, a staple in Europe for 20 years, serving sneaker fanatics in Stockholm, London, Paris and Berlin; opened at 22 Little West 12th St.

On the Lower East Side, urban street wear boutique Extra Butter, has reopened at 125 Orchard St. after an exciting redesign.

In the Financial District, California-based luxury eyewear brand Oliver Peoples has opened at Brookfield Place, 230 Vesey St.. Scotch & Soda now at 18 Fulton St. at the South St. Seaport. Nike teamed up with Foot Locker to bringSneakeasy, a one-of-a-kind sneaker shopping experience to 30 Wall St. Crabtree & Evelyn to Westfield World Trade Center.

Happy New Year & Happy Shopping!

Faith Hope Consolo is the chairman of Douglas Elliman’s Retail Leasing, Marketing and Sales Division, New York, N.Y.

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