June 21, 2021

USC Lusk Center for Real Estate

Rachel Elias Wein joins Richard K. Green to discuss the retail sectors returning as states continue to reopen and vaccine rates climb. Wein traces the pandemicā€™s impact on retail, including growth in grocery delivery, pet stores, and ecommerce as well as areas that struggled like malls and mid-sized brands. As for the future of retail, Wein notes that an overall decrease in restaurant sales towards lower-cost grocery foods puts more cash in the average consumer’s pocket, which may open an opportunity for post-pandemic spending in retail, hospitality, and travel.

Green and Wein discuss how work-from-home will impact retail, particularly weekday spending habits in urban and office hubs as an estimated 20% of the average workweek (one day per week) may take place from home. Additionally, they also cover how an aging populationā€™s spending habits may favor geographic regions, the feasibility of transitioning customer-based retail locations to more industrial-style fulfillment centers, and how the ubiquity of malls will continue to decline.

1:28 min Grocery’s Changing Footprint

1:14 min Grocery Spending = Savings

USC Lusk Center, full video

Rachel Elias Wein

Rachel Elias Wein is CEO & Founder of WeinPlus. Focused on the impact of consumer change on commercial real estate, Rachel serves as the principal strategic advisor for industry-leading owners and operators of commercial real estate. Additionally, Rachel is an independent director for Alpine Income Property Trust (NYSE: PINE) a net-lease retail REIT.