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The Retail Apocalypse: Ridgewood’s Battle with Store Closures

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the staff of the Ridgewood blog

Ridgewood NJ, brick-and-mortar stores have been grappling with significant challenges over the past decade. The COVID-19 pandemic and the meteoric rise of e-commerce have severely impacted traditional retail, leading to widespread closures. This phenomenon, often referred to as the “retail apocalypse,” has dramatically reshaped the commercial landscape since it began around 2010.

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E-commerce Black Friday Spending surged by 7.5% compared to 2022

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the staff of the Ridgewood blog

Ridgewood NJ, E-commerce spending on Black Friday surged by 7.5% compared to the previous year, setting a new record at $9.8 billion in the United States, as reported by Adobe Analytics. This increase underscores the preference of budget-conscious consumers for seeking the best deals, predominantly online.

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5 Timeless Tips for Small Businesses to Leverage E-Commerce

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Running an e-commerce business will allow your small business to reach a customer base beyond the local sphere. Your small business will be exposed to national and international markets and compete with larger companies  in the same industry. This wouldn’t even be possible if you were running a brick-and-mortar store.  

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The N.J. Business Action Center Releases a New Webinar Series on Cybersecurity, Franchising, Social Media and E-commerce

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the staff of the Ridgewood blog

Ridgewood NJ,  the New Jersey Business Action Center (NJBAC), a no-cost, confidential “business-first” resource housed within the New Jersey Department of State, will host a series of interactive webinars designed to help provide New Jersey businesses and nonprofits with tools that can help them grow. The series will be held from Sept. 21 – 30.

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How to Pack Your Products for E-Commerce Purposes

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When businesses have been set up, they have to keep the customer in mind at all times. The public wants their product to arrive in one piece and to be nicely packaged. This applies whether the item is posted locally or internationally. 

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From Tax Codes to Traffic, a Megamall’s Risks

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Model of proposed East Rutherford, New Jersey mall, the American Dream
(Ilya Marritz / WNYC)

Jun 5, 2017 · by Ilya Marritz

The company behind American Dream, Triple Five of Canada, is detailing its vision for a mall-entertainment destination in the Meadowlands in New Jersey — and the hazards that could derail the project.

Since the concept of a shopping destination on state-owned marshland was first green-lit in 2003, the mall has encountered many problems. Two earlier developers gave up on the project, formerly known as “Xanadu.”

Now, Triple Five is looking to raise $2.8 billion to finance the final phases of construction. More than half of the funding will be arranged privately through  J.P. Morgan Chase. The remaining $1.1 billion is expected to  come from the sale of tax-free, unrated, government bonds.

For that bond sale, two preliminary offering memoranda are now in circulation: one is for an $800 million bond package backed by payments in lieu of taxes (PILOT); the other is for a $300 million bond package backed by sales tax receipts generated after American Dream opens. The bonds are being sold by the Public Finance Authority of Wisconsin, which is serving as a middleman between the New Jersey Sports and Exposition Authority and investors.

The documents — over 1,800 pages of them — disclose a wide array of risks that potential investors will have to consider.

https://www.wnyc.org/story/tax-codes-traffic-megamalls-risks/

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Up to 25% of U.S. shopping malls may close in the next five years, report says

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by Makeda Easter

Between 20% and 25% of the nation’s shopping malls will close in the next five years, according to a new report from Credit Suisse that predicts e-commerce will continue to pull shoppers away from bricks-and-mortar retailers.

For many, the Wall Street firm’s finding may come as no surprise. Long-standing retailers are dying off as shoppers’ habits shift online. Credit Suisse expects apparel sales to represent 35% of all e-commerce by 2030, up from 17% today.

https://www.latimes.com/business/la-fi-malls-closing-20170531-story.html

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NJ’s industrial space in high demand in first quarter

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APRIL 16, 2015    LAST UPDATED: THURSDAY, APRIL 16, 2015, 1:21 AM
BY KATHLEEN LYNN
STAFF WRITER |
THE RECORD

* Bergen, Passaic benefit, aided by rise in port activity and need for warehouses

Spurred by increased activity at the port, industrial space remains in high demand in New Jersey, with a vacancy rate of 8 percent in the first quarter, according to a new report from the commercial real estate firm Cushman & Wakefield in East Rutherford.

Space is even tighter in Bergen County, with a 7 percent vacancy rate in the first quarter, down from 8.3 percent in the first quarter of 2014, and Passaic, with a 5 percent rate, down from 7 percent.

The growing demand for industrial space reflects a 7 percent rise in activity at the Port of New York and New Jersey, which has increased the need for warehouse and distribution sites in the state, according to Ron Lo Russo, president of Cushman & Wakefield’s tri-state region.

“As both online retail sales and manufacturing are expected to trend higher, the New Jersey industrial market is earning a position as one of the healthiest markets in the nation,” Lo Russo said in a statement.

A rise in e-commerce has led to more demand for warehouse space in this densely populated region, as online retailers aim for quick deliveries to their customers.

https://www.northjersey.com/news/business/demand-for-n-j-industrial-space-growing-1.1310550