John McFarlin with Coldwell Banker Commercial United is neither economist nor a retail expert but he gave a great presentation today at the O'Connor Retail Forecast Luncheon. John is an ex football coach who knows how to prepare for the upcoming opposition and in this case it's the retail economy.
Where is Retail going? It's going to the Internet and the brick & mortar will more and more be turning into discount and outlet locations. For example: Macy's is devoting it's entire capital expenditure budget to e commerce. They expect a return of $5.50 for each $1.00 allocated. Target will be expanding 350 of its stores to feature groceries. The major drugstores are doing the same thing. They want to be convenient one-stop-shops.
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