More validation that brick & mortar stores are an essential part of the retail shopping experience
As others are closing their doors, here are some of the retailers that taking over those vacant spaces and opening new brick & mortar stores.
Great recap from Pennsylvania Retail-Time News highlighting 20 chains representing 3,267 new stores in total.
73% were discount, dollar store or off price
Dollar General (1290 stores), Dollar Tree (650), TJX (111), Five Below (100), Ross (90), WalMart (59), Macy’s Backstage (19)
15% small format discount supermarket
Aldi (400), Lidl (100)
9% specialty big box
Ulta (100), Sephora (70), Hobby Lobby (60), Dick’s Sporting Goods (60)
Here’s how the other segments shook out:
Department Stores: Target (30), Nordstrom (17)
Fast Fashion: H&M (60), Forever 21 (10)
Online Merchants: Bonobos (20), ThreadUP Consignment (5)
Warehouse Club: Costco (24)
The results are in-line with the current retail segments that are prospering although one has to wonder when even the dollar stores will reach saturation point.
We think the ones to watch are Macy’s Backstage, Aldi and Lidl.
Macy’s Backstage because it’s a vital component of the merchant’s strategy to transform its business.
Aldi and Lidl could reshape US food retailing
Both are based in Germany and are bringing their decades-long supermarket battle to the US.
Aldi opened its first US store in 2008. They now have a network of 1300 stores with plans to add another 1200 stores by late 2022. Lidl opened its first US store earlier this year and may open hundreds within the next few years.
What differentiates Lidl from Aldi is a larger store footprint, more focus on fresh produce and a broader merchandise assortment which includes clothing.
For more insights on Aldi and Lidl, visit Forbes’ Neil Stern and Bloomberg
What are you seeing in the retail store landscape? We’d love your feedback. Email us at email@example.com
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