Cox Castle’s Scott Grossfeld: “Retail Can Handle Anything”

The retail sector faced considerable challenges as 2021 began, not least of which was a virulent pandemic that at the time had no vaccines available to address it. Yet through all of these obstacles, writes Cox Castle & Nicholson partner Scott L. Grossfeld, “the retail sector of the economy has not retreated to the point it did at the beginning of the pandemic. Retail remained open, adapted and learned from the past.” 

In an article titled ‘The Enduring Phenomenon of Retail: Looking Forward to 2022,” Grossfeld provides a discussion of the sector’s progress through 2021 and its performance metrics. Throughout the year, which was capped by an especially strong holiday season, those metrics showed continued improvement.

“As we move into 2022, the retail sector will undoubtedly face continued challenges, as well as new threats,” writes Grossfeld. “Unresolved issues for 2022 continue to be COVID-19, supply chain shortages, labor challenges and inflation, just to name a few. In the U.S., mid-term elections may cause yet another governmental shake-up and uncertainty.” 

He adds, though, that “history has taught us that retail can handle anything that is thrown at it. Consumers will always have a need to shop, eat and experience retail services. Retailers and developers will be creative and change with the times and adapt to do what is necessary to remain relevant and productive.” 

Cox Castle’s 2022 forecast includes further discussion of the prospects for retail as well as office. Connect CRE will be featuring these conversations as January progresses.