Brick-and-Mortar Retail Continues to Thrive Against Online Shopping

The sector may not have exactly nine lives, but brick-and-mortar retail has been able to fight off daunting economic conditions and continual predictions of its death to show a resiliency that few predicted. After a pandemic that sent shoppers online and an urban exodus of office employees, the brick-and-mortar retail sector continues to shine, especially in urban areas. However, there are concerns that a need for more new retail space could stall future growth.  According to a new report from global real estate and investment management services company JLL, “consumer spending growth and the return of international and domestic tourism have driven prime urban retail demand, with foot traffic recovering to pre-pandemic levels in half of the prime corridors surveyed.” ...