The holiday retail season is in full sway, the shoppers are out in force, and so are the dealmakers!
November was an unusual month for our city, filled with the highs of a terrific Thanksgiving Day parade and the launch of the Christmas seas, but also with the ongoing aftermath of Superstorm Sandy. Both have had their effect on retail sales: stores in the area saw less traffic in the early part of the month, according to the Federal Reserve System's November 28 Beige Book. Power outages, store closings and transportation issues slowed shoppers down in several areas. As those issues were repaired, however, foot traffic came back with a vengeance, and most retailers reported good numbers on Black Friday. Nationally, while sales were slightly down, it's important to remember that this is the longest holiday retail season since 2007, and particularly in the Northeast, which drives so much of the overall figures, many shoppers were still recovering from Sandy.
Tourism in New York, also slowed in the month after the storm, but began to rebound by mid-month. This should continue as U.S. and foreign visitors flock to the retail capital of the world for their holiday shopping! In addition, the report says, our local retailers are forecasting higher sales going forward as storm victims replace damaged property, a trend that should last well beyond the holiday season. All in all, it still will be a very very good holiday season.
Dealmaking and store openings continue even as the year draws to a close. Baccarat will move to a huge new flagship at 635 Madison Ave. in May. Japanese chocolatier Royce will have its first U.S. locations at 509 Madison Ave. and 253 Bleecker St. Accessories shop Fine and Dandy has its first store at 445 West 49th after popping up at several stores in the city. Le Palais des Thés offers more than 80 varieties, from its native France and elsewhere at 194 Columbus Ave. Men's undergarment maker 2(X)IST's December pop-up shop at 1411 Broadway will donate 100% of the store's proceeds to Superstorm Sandy relief. French skin care line Caudalie has opened a standalone shop at 315 Bleecker St. Basics line Everlane Workshop's annual holiday pop-up shop is at 74 Gansevoort St. this year. A.P.C's fourth Manhattan Store will be on Bond St. O Live Brooklyn sells an amazing selection of olive oils at 60 Broadway in Williamsburg. Nourish Kitchen + Table, a restaurant/take-out concept utilizing locally sourced ingredients, will open at 95 Greenwich Ave. Looking for items from Australia? Visit B_Space at 219 Mulberry St. - all products there come from Down Under.
And the end of the year still gives us time for a social event or two. NYCREW Network held its year-end celebration and awards ceremony on December 12th at the Columbus Club, 8 East 69th St. We celebrated NYcrew's 12th year with cocktails, hors d'oeuvres and the company of some of the most successful women and men in the business.
Happy Holidays and Happy Shopping!
Faith Hope Consolo is the chairman, The Retail Group, Douglas Elliman Real Estate, New York, N.Y. Tags: