Fully Occupied Scoop: November 2023 Newsletter

Last Updated on December 1, 2023 by Amanda Lee

Hi there,

Grab a scoop 🍦- Your commercial real estate news is delivered.

Happy December 1st! The holiday season is in full swing and Black Friday weekend was a record-breaker. 💰Once that turkey hangover wore off, shoppers hit the stores for weekend deals online and in person. ICSC is forecasting 3.8% YoY sales growth, representing a jump from $1.54 Trillion to  $1.56 Trillion in holiday sales.

🎁 Holiday Shopping

Holiday Retail Shopping Growth 📈

A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, according to NRF. 

300% Increase in Mall Foot Traffic ⬆️ 

Placer.ai estimated that this year’s Black Friday brought a nearly 300% increase in indoor mall visits compared to the daily average for the rest of 2023. Based on anonymous location data,  apparel stores rose 200%, sporting goods retailers were up 323%, and beauty and self-care stores increased 375%. Source

Brick & Mortar Shopping on the Rise 🛒

Holiday shoppers plan to do a little of both in-person and online shopping for the season. Bankrate data shows that 72% plan to shop in person, an increase from just 67% in 2022. In-store shopping is becoming more popular this year.

⛺ Experiential Retail – Black Friday Edition

Eastern Sports, a 21-store outdoor recreational retailer in the Northeast, launched its first-ever Annual Black Friday Parking Lot Campout Sale. “The first 20 groups of campers who arrive and stay the full night will receive a full EMS overnight set-up to keep, valued at over $1,200.” 

Experiential: If camping in a parking lot with food trucks, music, and raffles is your idea of retail shopping fun, then Eastern Sports has you covered. Experiential retail is bringing shoppers into stores {and parking lots} for a unique connection to the brands they love.

📁 What’s New in Occupier

Scheduled Exports! 

Exciting news from the Occupier team – reporting has just become a whole lot easier with Scheduled Exports! Save time and eliminate manual errors, while making it easier than ever to integrate and automate your reporting processes.

🍦 So, What’s the Scoop?

This year’s surge in Black Friday foot traffic demonstrates the continued resilience of consumers and the strength of the economy. With growing confidence in the revival of brick-and-mortar establishments, retailers and restaurateurs must proactively prepare and plan for their real estate strategies and expansion goals for 2024.

🌟 OCP Employee Spotlight

Get to know Vrajesh from our Lease Accounting Team

Why do you love working at Occupier?
The reason I love working at Occupier is because I have amazing coworkers who are very fun to work with and talk to, and share the same passion for the company.

What is your favorite memory at Occupier thus far?
My favorite memory is when we went to our annual All Hands in Austin, Texas. Meeting everyone in person for the first time was awesome.

What is your favorite thing to do outside of work?
I love playing volleyball and working out!

What’s your favorite movie of all time? 
My favorite movie is Rush Hour. I have watched it about 100 times, and it’s always funny.

What travel destination would you recommend? 
I traveled to Brazil recently and it was amazing. The beach was very nice as well as the food you could eat. Highly recommend!

What’s the best piece of advice you’ve ever received? 
Live life to the fullest.

Check out Vrajesh’s takeover on our Instagram Story!

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