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E-Commerce Is More Effective With Physical Stores To Support It
September, 2020
by Karl Niehaus, President, CREI
Economic Overview:
CA UNEMPLOYMENT FALLS as 140K jobs were added in July. Unemployment dropped from 14.9% in June to 13.3%, which is still high but improving. Declining trade adversely affects employment and income. Unfortunately, CA exports were down 16.3% from June 2019 to 2020, as trade continued to combat unfavorable tariffs, weaker demand, and failure to contain Covid-19. Despite negative trade influences, trade did improve from May which was down 30%. Let’s hope for continued improvement.
Commercial Overview:
E-COMMERCE, THOUGH ESSENTIAL, IS MORE EFFECTIVE WITH PHYSICAL STORES TO SUPPORT IT. Target & Walmart’s continued earnings growth show that by giving customers multiple ways to buy goods, businesses thrive, which is great news for landlords concerned with tenants competing against e-commerce. Target plans to open another 27 stores this year as their successful model relies on physical stores.
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