Retail Continues to Rebound
Winter 2023 Allen Matkins/UCLA Anderson Forecast California CRE Survey
2.08.23
Following a period of headwinds caused by the pandemic and consumer reliance on e-commerce, the Winter 2023 Survey points to signs of recovery in the retail market. Panelists identified three key factors that are creating optimism in the sector:
- New housing development driving demand for nearby retail options;
- Return to the office, albeit limited, and growth in tourism leading to retail demand in metropolitan areas; and
- The reconfiguration of existing retail establishments adapting to open-air, post-COVID concepts to attract new customers.
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