Electric vehicles are becoming increasingly popular, especially with rising gas prices over the past year. EVs now make up roughly three percent of the global vehicle fleet, up from one percent at the end of 2020.
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Medtail: Just what the Doctor Ordered?
The past decade has seen an explosion in consumer products and services going digital—especially during the last two years of the COVID-19 pandemic. You can order your groceries, have your clothes dry-cleaned and your car detailed without ever leaving your home. While companies like Teledoc have created a realm of virtual health care, many medical procedures and other healthcare services still demand physical space outside of a patient’s home. Consumers are increasingly seeking convenience in their daily tasks and errands, and medical appointments are no exception. Enter medtail.
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Proposed Federal Minimum Wage Raise and its Effect on Retailers
During his 2020 campaign, now President Biden promised to raise the federal minimum wage to $15 an hour, something progressives have long been proposing. The Democratic-held House of Representatives introduced and passed the Raise the Wage Act in 2019, but the bill never reached a vote in the then-GOP controlled Senate.
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The Rise of the Dollar Store
Few other retail sectors have seen the expansion that dollar stores have in the past decade, not to mention in the chaotic first half of 2020. During a time when other retailers are struggling to stay afloat due to social distancing requirements and widespread economic uncertainty, dollar stores are continuing to increase their physical presence as well as their profits.
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Your Cash is Not Welcome Here
Retail stores and businesses are generally free to develop their own policies regarding acceptance or non-acceptance of certain forms of payment. For years, many small businesses have refused credit card payments entirely or credit card payments for transactions under a certain amount due to high transaction costs. Smaller retailers may also refuse certain brands of credit cards. However, a different trend has emerged in recent years as an increasing number of retailers are refusing to accept cash and instead accepting only credit/debit and smartphone payments.
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From Digital to Physical: New Considerations for Retail Leasing with the Rise of E-Commerce into Physical Spaces
The rise of e-commerce and the struggle many brick-and-mortar retail stores face is nothing new. Customers are increasingly choosing to shop for clothes, furniture and even groceries from the convenience of their own homes. More recently, however, this shift in the way consumers shop has given rise to new types of retail stores – small showrooms and “pop-up shops.”
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Considerations When Negotiating Common Area Maintenance Costs in Retail Leases
Most retail tenants desire to locate their respective businesses amongst other retail businesses in malls, retail shopping centers or other mixed-use centers. Therefore, when negotiating retail leases, some of the most heavily discussed provisions involve the tenant’s share of Common Area Maintenance expenses.
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Cryptocurrency and the Concern for Retailers
Due to volatile and record-breaking valuations, cryptocurrencies and their underlying technology, blockchain, have been at the forefront of financial news headlines. Though widespread acceptance by merchants could help stabilize cryptocurrency, the current volatility is a concern for retailers.
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Leveraged Loans Raise Bankruptcy Fears
Leveraged loans may have a role in recent retail bankruptcies. Leveraged loan volume is nearing pre-recession highs and is on track to surpass 2007 levels, concerning many regulators and investors. Leveraged loans are typically offered to companies that already have large amounts of debt, and therefore, leveraged loans carry higher interest rates due to an increased risk of borrower default. Companies often use leveraged loans to finance mergers, refinance debt or for general company purposes. Private equity firms also utilize leveraged loans in order to fund takeovers of companies, including struggling retailers. Loans issued to fund leveraged buyouts from private equity firms rose 74 percent in 2017 and totaled 88.5 billion dollars. Additionally, nearly a third of loans to companies backed by private equity firms are leveraged six times or more.
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Proposed Budget Cut to the Food Stamp Program Worries Many Food Retailers
At the end of May, President Trump unveiled his latest proposed budget blueprint for 2018. The proposed budget contains significant funding cuts for many government programs, including more than a 25 percent cut to the Supplemental Nutrition Assistance Program, formerly known as the Food Stamp Program.
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