CHANGING CHANNELS
While everyone shops at grocery stores, American shoppers are making fewer trips annually to their local supermarket. Meanwhile, they're shopping more often at dollar stores and at supercenters like SuperTarget.
1999 | 2000 | 2001 | 2002 | |
---|---|---|---|---|
Warehouse | 9 | 10 | 10 | 10 |
Dollar | 10 | 10 | 11 | 12 |
Convenience/gas | 13 | 14 | 15 | 14 |
Drug | 15 | 15 | 15 | 15 |
Supercenters* | 15 | 17 | 18 | 21 |
Mass Merchants | 26 | 25 | 23 | 22 |
Grocery | 83 | 78 | 75 | 73 |
1999 | 2000 | 2001 | 2002 | |
---|---|---|---|---|
Convenience/gas | 50% | 48% | 45% | 46% |
Warehouse | 50% | 49% | 50% | 52% |
Dollar | 52% | 55% | 59% | 62% |
Supercenters* | 52% | 54% | 60% | 63% |
Drug | 87% | 86% | 86% | 86% |
Mass Merchants | 95% | 94% | 93% | 92% |
Grocery | 100% | 100% | 100% | 100% |
*Includes Kmart, Target and Wal-Mart supercenters. | ||||
Source: ACNielsen |
HOME DEPOT VS. LOWE'S
The two home improvement titans continue to expand, locking horns in some markets. During 2002, both companies opened most of their new stores in the South Atlantic census region, which includes Maryland, D.C., the Carolinas, Georgia and Florida, followed by the West North Central and Middle Atlantic regions. In New England, however, Home Depot was the clear leader; it opened 16 stores, or 9 percent of its yearly total, compared to Lowe's four store openings. Home Depot continues to lead Lowe's in major market penetration.
SEGMENTING ASIAN CONSUMERS
Among Asian Americans, Indians, Vietnamese and Filipinos are the fastest growing submarkets. The Chinese, Japanese and Korean populations experienced a slight decline between 1990 and 2000.
STREETFRONT PERSPECTIVES
All urban retail spaces aren't created equal. In fact, a shop on Fifth Avenue costs 40 times the price of space in downtown St. Louis. Grubb & Ellis' 2002 Premier Urban Shop Space survey uncovers the highs and lows of streetfront rents.
Urban District | Average annual rental rate per sq. ft. |
---|---|
Downtown, St. Louis | 22 |
Downtown and Fringe, Pittsburgh | 23 |
Wholesale District, Indianapolis | 26 |
South Howard, Tampa | 26 |
Uptown along Trade Street, Charlotte | 26 |
Fountain Square, Cincinnati | 27 |
Nationwide Arena area, Columbus | 27 |
Downtown, Minneapolis | 29 |
Pioneer Square, Portland, Ore. | 30 |
Ford Field, Detroit | 30 |
Urban District | Average annual rental rate per sq. ft. |
---|---|
Fifth Avenue, New York | 922 |
Rodeo Drive, Los Angeles | 240 |
Michigan Avenue, Chicago | 225 |
Newbury Street, Boston | 150 |
Union Square, San Francisco | 144 |
Kalakaua Avenue, Honolulu | 78 |
Olive to University, from 4th to 7th avenues, Seattle | 70 |
South Beach, Miami | 65 |
Santana Row area, San Jose, Calif. | 60 |
Connecticut and Pennsylvania avenues, K Street, D.C. | 50 |
Source: Grubb & Ellis |