Drawing on data from Credit Suisse, internet marketing firm Kleiner Perkins predicts that more retail stores will close this year than they have in the past two decades. Things look grim for shopping malls, which rely on chain retailers. But there could be great opportunities for downtowns and neighborhood commercial corridors, whose businesses could see increased sales as chain retailers close. And, independently owned downtown businesses have the ability to customize their products and offer unique experiences tailored to their communities - unlike chain stores. Neil Blumenthal, one of eyeglass retailer Warby Parker's two CEOs, recently said, "I don't think retail is dead. Mediocre retail experiences are dead."
The Community Land Use and Economics Group is a small, specialized, consulting firm that helps community leaders create vibrant downtowns and neighborhood commercial centers. Our work focuses on developing forward-looking economic transformation strategies, with particular emphasis on cultivating locally owned businesses, removing regulatory and financial barriers, creating effective incentives to stimulate new investment, reusing older and historic commercial buildings, and outlining practical implementation plans. Our clients include local and state governments, nonprofit organizations, business improvement districts, developers, and planning firms in the US and abroad.