News and Events
Know Your Business
Technology helps retailers understand their customers, stores and locations.
May 15, 2011 Chain Store Age Debra Hazel
The retail business was all about survival in 2008 and about downsizing (or right-sizing) in 2009. As the industry crawled toward the new normal in 2010, retail leaders increasingly could look at growing again. However, the need for getting expansion decisions right the first time has never been greater, as the recovery remains tenuous. Whether a chain has 100 units or thousands, getting its real estate under control is a critical aspect of operations.
Know Your Real Estate
It’s surprising how many retailers don’t, according to RCS Real Estate Advisors, New York City. “So many retailers don’t know their lease dates, their kickout dates,” said Ivan L. Friedman, RCS president. While larger chains (those with more than 500 or so units) usually are up to speed, many companies with 100 to 200 units may be lacking on the knowledge front, he said.