Even in the midst of inflation, supply chain, and post-pandemic recovery challenges, several retail brands aggressively expanded in 2023. A recent article in Footwear News identified these sporting goods, discount, and retail chains as the front runners for expansion in 2024:
Academy Sport + Outdoors
BootBarn
Dick’s Sporting Goods
Dollar General
Five Below
Macy’s
Nordstrom Rack
REI
Rothy’s
Uniqlo
Read the full article HERE.
Travel trends in 2024 are expected to be largely influenced by TV and movie set, and concert locations. “Destination dupes,” lower-cost alternative destinations offering a similar climate and experience to a more popular location, and alcohol-free travel experiences are also leading travel trends this year. Whether you're a Swiftee attending the Eras Tour, a budget-conscious traveler choosing the Canadian Rockies over the Swiss Alps, or observing “dry-January” there’s a destination in store for you in 2024.
Read the full CoStar article HERE.
According to a recent CoStar Hospitality Data Podcast, the month of November marked the “return to equilibrium” for the hotel industry.
As a whole, during the month of November hotel industry RevPAR increased 2.7%, room rates increased 3.8%, and occupancy decreased 1.1%. Breaking those numbers out by scale, upper-upscale RevPAR increased 5% while economy RevPAR decreased by 5%. The luxury chain room rate decreased 0.9% however the room rate for the luxury hotel scale as a whole increased 5%, driven mainly by the impact of the Formula 1 event on the Las Vegas hotel market. TSA posted record travel data during the Thanksgiving week resulting in a much-needed leisure travel surge for hotels at the end of the month.
Projections for December are being based on traditional last minute corporate holiday travel patterns and a plunge in occupancy over the Christmas holiday. What do experts predict for the start of 2024? No growth during the first two quarters of the year, but also no decline; a state of equilibrium.
Listen to the full Podcast HERE.
Retailers are hyper-focused on mitigating returns in 2024. Last year, 14.5% of all in-store purchases and 17.6% of all online purchases were returned. While that might not seem like a loss since retailers re-gain the pre-sold products, a recent rise in fraudulent returns is accounting for $101 Billion in industry loses. Approximately 20% of retail fraud is conducted by Organized Retail Crime groups and an estimated 49% of all retail fraud is attributed to “wardrobing,” the return of used non-defective products. In an effort to stop the bleeding, retailers will begin applying stricter rules to returns in 2024, especially as they relate to online purchases.
Read the full article HERE.
A recent article in the Alameda Post called Henry Coe Park a, “Bay Area Treasure” due to its moderately strenuous loop and China Hole swimming location. Hiking and camping the state park in December has become a winter tradition for many, offering a mild winter climate, solitude, and breathtaking sunsets.
Read the full article HERE.
Late September, Governor Newsom repealed the Fast-Food Accountability and Standards Recovery Act, replacing it with a mandatory $20 per hour minimum wage for all fast food employees. The base wage will go into effect on April 1, 2024 . A nine-person Fast Food Council will be appointed to monitor and recommend additional annual wage increases and workforce standards for fast food employees through 2029.
Read the full article HERE.
Join us on Social Media
Talk to our team
