As retailers continue to adjust to shoppers’ changing habits, three statistics presented in a Colliers International panel discussion at the International Council of Shopping Centers’ Florida Conference were particularly instructive:
– Industry consolidation resulted in more than 3,000 U.S. store closings this year.
– Our society has become more casual in its dress. In 1996, women bought an average of 51 clothing items a year. By 2016, that number was 36.
– We want to put our best face forward. Beauty products account for nearly 32% of retail sales nationally, followed by home (20%), electronics (16%), grocery (15%) and apparel (13%).