The pandemic has created more online consumers – with shoppers who may not have been as familiar or as frequent with online shopping, it has shifted transactions to take place online. A trend that has been happening for years, but has increased dramatically in these last 9 months.
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Ghost kitchens seem to be thriving in this current pandemic environment, particularly the larger restaurant groups and chains who have already established their brand and can utilize the ghost kitchens to extend their reach to consumers while keeping their operating costs down.
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I think it’s safe to assume the residential real estate market will continue to build the pent-up demand of buyers looking to relocate and invest in their homes for the remainder of 2020, and into 2021. With this reshuffling, the millennial migration to the suburbs to have more space as their families expand will drive retailers to follow, especially with more and more people working from home at least a couple days during the week.
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Retailers along the first blocks of Newbury and in Copley Place Mall rely heavily on Boston tourism and students to generate sales. Unfortunately, both tourism and the student population will be minimal for the duration of the short term. When it does return, it is still uncertain that consumers will be in a monetary and emotional position to make large purchases from these retailers.
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From the physical layouts, to staffing, menu offerings, and service lines, we can expect some exciting and challenging changes ahead, with the restaurants who are most nimble, creative, and resourceful rising to the top.
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Since it became established in the late 1800’s, the South End neighborhood of Boston has been home to a vast array of race, religion, age, socio-economic levels, and sexual orientation.
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