No, Retail is Not Dead

There is a widespread myth that needs to be questioned and confronted, and it goes something like this: First came Amazon, and then came COVID-19, and both killed retail. However widespread, this view of the retail market is inaccurate and incomplete. To be sure, parts of the retail sector are experiencing challenging disruptions, but other aspects of the industry are expanding and thriving. The state of the retail market is a mixed picture of disruption, change, adaptation, and success. This report will review recent consumer retail sales data from the holiday season and January, as well as explain the current state and trends within the sector.

Q4 2021 Economic Report

GDP GROWTH: TRENDING IN Q4 2021

The nation’s gross domestic product grew by 5.7% in 2021, the fastest rate since 1984. The Commerce Department also reported in its advance estimate released in late January that growth accelerated in the fourth quarter at an annualized rate of 6.9%, following a 2.3% reading for the third quarter.

The increase reflected gains in private inventory investment, exports, personal consumption expenditures, and nonresidential fixed investment that were partly offset by declines in federal, state, and local government spending. There was an increase in imports, which reduces the net GDP calculation.

Analysts expect a slowing in the first quarter due to high inflation and workers being kept home due to the highly contagious omicron variant of the COVID-19 virus.

Orders for durable goods fell 0.9% in December, which was more than expected, hitting their lowest point since April 2020 and reflecting a year-end slowing as infections skyrocketed.

The increase in private inventory investment was led by retail and wholesale trade industries. Within retail, inventory investment by motor vehicle dealers was the leading contributor.

Recently Leased | Retail Space | Meridian, Idaho

Meridian, Idaho – January, 2022– Lee & Associates Idaho, LLC has facilitated the lease of a 1,225 SF retail space, located at, 1450 W. Ustick Rd., Meridian, ID 83646. Lee & Associates’ agents are considered experts in their local markets. In addition, they have access to a national network of 1,000 agents across 60 offices to serve their clients on a local, regional, national and international basis.

Chase Erkins, Principal, and Trey Thomas, Associate, at Lee & Associates Idaho, LLC represented the Tenant, Ada Chiropractic, LLC.

Recently Leased | Retail Space | Meridian, Idaho

Meridian, Idaho – January, 2022– Lee & Associates Idaho, LLC has facilitated the lease of a 3,204 SF retail space, located at, 1500 N. Locust Grove Rd., Suite 103, Meridian, ID 83642. Lee & Associates’ agents are considered experts in their local markets. In addition, they have access to a national network of 1,000 agents across 60 offices to serve their clients on a local, regional, national and international basis.

Michael Bergmann, Principal, and RJ Walker, Associate, at Lee & Associates Idaho, LLC represented the Landlord, Darrell G. and Carolyn S. Taylor Trust and Chase Erkins, Principal, and Trey Thomas, Associate, at Lee & Associates Idaho, LLC represented the Tenant, Marin Boxing Academy, LLC.

Recently Leased | Retail Space | Boise, Idaho

Boise, Idaho – January, 2022– Lee & Associates Idaho, LLC has facilitated the lease of a 1,218 SF retail space, located at, 8005 W. Fairview Ave., Boise, ID 83704. Lee & Associates’ agents are considered experts in their local markets. In addition, they have access to a national network of 1,000 agents across 60 offices to serve their clients on a local, regional, national and international basis.

Chase Erkins, Principal, and Trey Thomas, Associate, at Lee & Associates Idaho, LLC represented the Landlord, Crossroads Re, LLC.