BLING-BLING BOULEVARD
Fifth Avenue is the most expensive shopping thoroughfare in the world.
$950 per sq. ft.
New York
Fifth Avenue
$711 per sq. ft.
Paris
Avenue des Champs Elysées
$569 per sq. ft.
Hong Kong
Causeway Bay
$517 per sq. ft.
London
Oxford Street
$381 per sq. ft.
Dublin
Grafton Street
$332 per sq. ft.
Munich
Kaufingerstrasse
$325 per sq. ft.
Moscow
Tverskaya
$321 per sq. ft.
Sydney
Pitt Street Mall
$311 per sq. ft.
Tokyo
Ginza
$301 per sq. ft.
Seoul
Myeongdong
Source: Cushman & Wakefield Healey & Baker
DOLLAR STORES SHOW SLOW GROWTH
Sales at warehouse clubs, such as Costco, are growing faster than other discount centers, with dollar stores showing especially slow growth. Wal-Mart is below the median, with 3.5 percent growth on a sales-weighted average over 12 months through October.
HISPANIC SHOPPING HABITS CHANGE WITH ACCULTURATION
As Hispanics learn to navigate Anglo society, their shopping behavior becomes similar to that of non-Hispanic households, according to ACNielsen. This trend is obvious in the use of loyalty cards. Just 52 percent of Spanish-only speakers use such programs vs. 90 percent of non-Hispanics. Membership seems to increase with acculturation, but still lags national rates. An ACNielsen survey shows that many Hispanics aren't eager to join institutional programs that use personal information. Other objections include the time required to complete the application and a dislike for showing the card.
THE BIERI REPORT: PORTLAND, OREGON
Portland is a city that has a wonderful, viable downtown. Pioneer Place showed that retail can excel above and below ground level; many merchants have done well. Washington Square is one of the most powerful centers in the Northwest. Lloyd Center's renovation never really got off the ground, and Clackamus remains a good middle-market center. Columbia Gorge, Vancouver and Woodburn are really not factors. Two new lifestyles centers that will have an impact on the region are Tanesborne and Bridgeport Village. Tanesborne must share the market with Washington Square, while Bridgeport Village should attract the higher price-point tenants, nonetheless, both should thrive.
| SHOPPING CENTER | RANKING |
|---|---|
| Bridgeport Village | new |
| Clackamus Town Center | B- |
| Columbia Gorge Factory Stores | C- |
| Lloyd Center | C- |
| Pioneer Place | B |
| Tanesborne | new |
| Vancouver Mall | D+ |
| Washington Square | A- |
| Woodburn Factory Stores | B- |
The information presented for traffic estimates and regional malls is gained from a variety of sources used in developing the Bieri Market Reports. These sources are public and private, and may even include the developers themselves. When traffic counts are not available, grades are determined by reviewing sales of anchor stores and specialty tenants within a subject project, and then comparing those with like projects.
TRADITIONAL GROCERS LOSE MARKET SHARE
The emergence of the supercenter — a discounter with a full grocer — has put supermarkets at risk. And supercenters' share will expand, according to Property & Portfolio Research projections.
UNDER THE RADAR
Some 6 percent of retailers and 4 percent of real estate, finance and insurance business people say they have concealed cash deals from the IRS, according to an e-poll by American Demographics. The agriculture, forestry and fishing industry is the most dishonest when it comes to taxes, the survey reveals.