More than half of retailers surveyed by RetailSphere intend to expand their businesses and more are looking for spaces with a smaller footprint, under 2,500 square feet. Grocery, fast-casual, and value stores are leading the charge with more than half of companies in all three sectors saying they’ll expand this year.
“Some companies are opening a handful of stores; others are expanding by hundreds,” the survey read. “Grocery, convenience and fast-casual and value dominate the list of national and regional retailers that are growing.”
Discount stores are expected to expand the most, with Family Dollar opening 500 stores in 2021 and Dollar Tree opening 700, according to the survey.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.