Retail 2017: The good, the bad and the ugly.

The Good:

• U.S. retails sales growing at fastest pace in three years.
• C-Stores continue to grow fueled by Millennials
• Grocery produce growth outpaces other categories – again fueled by Millennials
• Just over half of Millennials prefer shopping at a brick & mortar store vs online.
• 81% of young Gen Z (age 13-21) said they preferred to shop in stores, while 40% said they will only shop in stores.

The Bad:

• A record number of retail store closings, close to 7,000 in 2017.
• Hispanic spending was down. Retail experts, economists and business leaders believe the administration’s stance on undocumented immigrants is causing anxiety in the Latino community. Hispanic business leaders added, “Many Hispanic consumers are saving money in case something happens to them or their loved ones in any crackdown on immigrants.”

The Ugly:

• Shiny, gray concrete floors have become all the rage at many retailers. Shiny is good, but many consider gray to be a soul-crushing color that promotes a feeling of being in a warehouse. Hopefully, we’ll see some Earth tones or brighter floor colors in 2018.
• Package theft by porch pirates continues to grow. Nearly 20% of American homeowners have been a victim of package theft in the last year.
• Consumers perception of ugly produce (picked by someone else) continues to slow the adoption of online grocery buying.