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National  + Retail  | 
Retail Lease Activity Picking Up in North Suburban Chicago

Consumer Spending Habits Will Become Clearer as Stimulus Impact Fades

Following the passage of the $1.9-trillion American Rescue Plan Act, budget hawks have begun expressing concern about the amount of capital pumped into the economy, Marcus & Millichap notes in a Research Brief on retail sales, which dipped in February following a January surge.

“Tempered prospects for future stimulus will provide retail property owners some direction regarding how tenants will survive the downturn,” the report states. “Retailers will also begin to consolidate into locations where vacancy levels are lower.”

Following the exhaustion of the latest spending package, “the permanence in the change of consumer behavior due to the health crisis will become clearer,” says Marcus & Millichap.

Online purchases, up nearly 26% year over year, will remain strong, though some of those gains are expected to be surrendered. “The balance between grocery and restaurant spending should also begin to balance, but a reduction in options may initially limit receipts.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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