It should come as no surprise that the 2011 holiday season was a very successful one for many DFW retailers. All one had to do was go shopping and experience the mayhem of traffic, packed parking lots, and people with packages in their arms.
In the previous few seasons, shoppers were out shopping. But in 2011, shoppers were actually buying. Throngs of shoppers enjoyed the mild weather and went early and often to their favorite retail haunts. From NorthPark to Stonebriar, The Highlands, and Hulen, the last two weeks of the season mirrored the beginning and all the craziness of Black Friday back in November. Initial sales reports indicated an upbeat season, but many felt it would fade or be diminished by deep discounting. Thankfully, neither occurred.
We in Texas, especially DFW, Houston, and Austin, have been fortunate to weather the lingering recession remarkably well. But the really good news is what happened around the country.
Nationally, last-minute shoppers helped us top previous years’ sales by 3.3 percent, according to reports from the International Council of Shopping Centers. This may not seem like a big increase, but the significance of consumers having more disposable income for Christmas shopping—and being willing to part with it—is a big step forward to continuing the national recovery.
So, what does this mean for the retail real estate world? A successful holiday season gives retailers a reason to renew existing leases, expand into bigger spaces, and penetrate new markets with new stores. It’s simple: More retail sales equals more stores, which produces more real estate transactions … so we can go buying again this Christmas!
