Tuesday, May 30, 2017
Large commercial brokerage Marcus & Millichap kindly posted this video link to a CNBC interview that their CEO gave last Thursday. They were discussing how malls are faring given the "Amazon-ization" of so many businesses.
While Mr. Nadji had some good insights into how malls are being repurposed (one thing that stuck out to me was that fitness and wellness companies - which do require physical locations - were moving in where the former product-based retail moved out), the one thing that stuck out to me most was that apparently, fast food sales were higher than grocery sales last year for the first time!
I'm not surprised that fewer people have time to cook - that's one reason we have single and double portions of chopped vegetables available at Whole Foods now, pre-chopped meal services like Blue Apron, etc. But fast food? I'm a little surprised because I always thought the millennial generation cared more about their health.
Then I remember: Chipotle and salad companies like Just Salad, Chop't (a favorite of mine), and Sweetgreen also technically count as fast food. So does Starbucks, whose bottom line I contribute to mightily despite the fact that I don't drink coffee.
Maybe I'm getting a bit old, but I've always struggled with my weight, so I have tried to embrace the slow food, home cooked movement. Plus, I'm such a picky eater that I like making my own food just the way I like it. So it feels like cheating to me.
In the meantime, an interesting juxtaposition of fast food and gyms, spinning gyms, mixed martial arts gyms, and maybe a few day spas, physical therapy offices and urgent cares will define your mall experiences for the near future. And Starbucks, of course.
Marcus & Millichap - CNBC:
'via Blog this'