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The Experience
Economy
Sarah Quinlan
DEAD!
Bricks and
Mortar Retail
is
You might be hearing…
W R O N G
And to that I say…
Sales TypeEmployment Net Migration
SUCCESSFUL RETAIL SALES DEPENDS UPON…
EMPLOYMENT
ANNUAL UNEMPLOYMENT RATESU.S. Annual Unemployment Rates
145,000 US jobs
were created in
December 2019
3.5% (Dec 2019)Perc
ent
Unem
plo
yment
0
2
4
6
8
10
12
Wages
• December 2019 was the first time that there were more
women hired than men in the US
• This reflects that women now are 54% of college
graduates within the US
• However, there was a drop in college enrollment of 1.8%
in 2019, continuing the negative trend of the past eight
years.
RETAIL SALES
RETAIL SALES ARE 70 PERCENT OF GDP
US Retail Sales Growth
% G
row
th–
mo
nth
-ove
r-m
on
th
60% of all US
Home Owner
expenditures
are spent on
services
Goods
Services
ONLY 11.4% OF
ALL U.S. RETAIL
SALES IN 2019
CAME FROM
E-COMMERCE
E-COMMERCE
U.S. RETAIL
11.4%
E-commerce Holiday Sales
• E-commerce sales grew 18.8% in 2019
• Holiday E-commerce sales were 14.6% of total retail sales
• E-commerce was 24.5% of cyber-Monday spend
• Apparel and electronics had the largest percentage growth
year-over-year
EVOLUTION OF SPENDING
• In 1929 $12 of every $100 spent was on clothing
• In 2019 clothing spending was down to $2.80 of that $100
• Food spending has had a similar decrease
• But now, 48.7% of food spending is in restaurants
Strip Malls Large Shopping Malls Lively Retail Centers
The Evolution of Retail
THE FUTURE OF RETAIL
SHOW ROOMING!!
ENTERTAINMENT!!
FOOD AND
BEVERAGE!!
BUT THE NUMBER ONE HOLIDAY
GIFT FOR THE PAST 3 YEARS…
Vacation!
NET MIGRATION
EMPLOYMENT
AND NET
MIGRATION
Top 2018 Inbound/Outbound
States
THE OUTLOOK
•Worldwide Economic Slowdown
•Trade unknowns
•Coronavirus
Challenges
THE OUTLOOK•Small Businesses
•Brick-and-Mortar Companies
•Show Rooming
Winners
THUS:
Growth is Not Linear
Continue To Create
And…
GO
SHOPPING!!
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