Skip to main content Skip to footer

2020 Q3 Retail Market Report

Download Report
studiopark

'Slow and Steady:' Retail continues in survival mode due to COVID-19.

The struggles facing retailers amid the COVID-19 pandemic continued throughout Q3 and show no sign of letting up despite a very slight increase in activity this quarter.
Though most are adapting, retail continues to be in survival mode as government mandates just recently allowed for gyms, theaters and bowling alleys to open with restrictions and limited capacity. Restaurants have hung on, but limited seating poses challenges, even if businesses were able to add outside seating during warmer months.

Like Q2, drive-thru deals and essential businesses remained viable in Q3, while some quick-service restaurants looked to decrease their footprints to prioritize takeout and delivery, including Tropical Smoothie Café, Pizza Hut, Subway and Biggby Coffee. Many retailers continued adapting on the fly to create online takeout and delivery services for customers. Essential service outlets Like Dollar General, AutoZone, Popeye’s Chicken and Circle K continue to be active in the West Michigan retail market.

studiopark

2020 Q3 Retail Market Report

Download Report
Related Experts
Earl Clements | Colliers | Grand Rapids

Earl Clements

Senior Vice President

Grand Rapids

+1 616 242 5175
+1 616 292 5046
Email

I have been involved in some of the Midwest’s largest retail projects, bringing more than 35 years of experience and national-level retail contacts to the Colliers International | West Michigan team. I am well-known for my expertise and attention to detail in retail and tenant site location. Most notably, I am known for my work in consulting local communities on their location of retail properties. I also frequently assist clients by lending my knowledge in marketing.

Prior to joining Colliers, I served as the president of Visser Development, Inc., for 16 years. While at Visser, I was responsible for the development, management, leasing, and sale of numerous West Michigan strip centers and enclosed malls.

Before Visser, I spent seven years in marketing and management at The Taubman Centers, Inc. - an international developer of regional malls.

My early years at Taubman prepared me for my success as a major retail broker by providing me with the management skills needed to oversee large transactions and the creativity to develop creative retail, real estate solutions.

View expert
Q3 Retail Market Trends Update