Retail expert: Here’s how changing industry could play out in Union County
Charlotte Business Journal, Feb 4, 2019, 8:10am EST by KEN ELKINS
Lacy Beasley says the death of storefront retail has been greatly exaggerated — and she has the numbers to show it.
“I want to challenge some retail assumptions,” Beasley, president of Birmingham, Alabama-based Retail Strategies. One of those is the purported “retail apocalypse” brought on by competition of Amazon.com Inc. (NASDAQ: AMZN) and the bankruptcies and closings of several major retail chains.
Beasley, who is working on project in Union County and Albemarle in the Charlotte region, says 16 retail brands have represented 66% of the U.S. store closings.
Other brands are finding success, she says.
“Every five hours in the United States, a new dollar store opens. Retail is not dying; it’s changing.”Lacy Beasley
Beasley spoke to the 9th Annual Groundhog Day Economic Summit in Monroe on Friday before about 150 political, economic development and other leaders.
Retail Strategies has looked at Monroe, with its 165,300 residents within a 10-mile radius, and suggested how it can attract new retailers to the market, Beasley says. One interesting trend is to “backfill second-generation space” such as closed big-box stores.
The company has identified 130 retailers who just may want to move into some of that vacant space, Beasley says. They represent stores in the areas of hardware, entertainment, furniture and sporting goods. “There are a lot of retailers who want to take up this second-generation space,” Beasley says.
Monroe City Site
Retail Strategies is a PROUD PARTNER with Monroe, NC.
Lacy BeasleyPresident of Retail Strategies
Lacy hosts a series of Retail Webinars covering trends, retail site selection, and insider experts discussing how they navigate the evolving retail industry.
Her articles have been published in Shopping Centers Today, Site Selection Magazine and AL Retail Federation. She has spoken on retail trends and best practices in retail recruitment at more than 75 events including ICSC, American Association of Retirement Communities, American Public Power Association, Tennessee Valley Authority, ElectriCities of NC, Georgia Power, Southeastern Economic Development Council and state-wide economic development and municipal associations in Canada, AZ, LA, OK, TX, TN, AL, MS, KY and GA.