Filtered by Category: retail
Even in the midst of inflation, supply chain, and post-pandemic recovery challenges, several retail brands aggressively expanded in 2023. A recent article in Footwear News identified these sporting goods, discount, and retail chains as the front runners for expansion in 2024:
Academy Sport + Outdoors
BootBarn
Dick’s Sporting Goods
Dollar General
Five Below
Macy’s
Nordstrom Rack
REI
Rothy’s
Uniqlo
Read the full article HERE.
Retailers are hyper-focused on mitigating returns in 2024. Last year, 14.5% of all in-store purchases and 17.6% of all online purchases were returned. While that might not seem like a loss since retailers re-gain the pre-sold products, a recent rise in fraudulent returns is accounting for $101 Billion in industry loses. Approximately 20% of retail fraud is conducted by Organized Retail Crime groups and an estimated 49% of all retail fraud is attributed to “wardrobing,” the return of used non-defective products. In an effort to stop the bleeding, retailers will begin applying stricter rules to returns in 2024, especially as they relate to online purchases.
Read the full article HERE.
As we close out another busy year, the Economic Development team would like to wish all of our businesses a happy and prosperous holiday season. We are grateful for the community’s support of the Downtown Street Activations, the Buy Local Holiday Shopping Passport, and engagement during our business roundtable meetings. This final newsletter of the 2023 year captures just a few of our most recent accomplishments. We look forward to the New Year and our work ahead to support the City’s long-term fiscal sustainability and increase the number of local job opportunities for all Morgan Hill residents.
Read the full eNewsletter HERE.
Los Gatos-based businesses Enoteca La Storia and Oak & Rye are both expanding in Morgan Hill. Oak & Rye will open The Silos, a full-service restaurant and bar, at the newly constructed 1,464-square-foot restaurant space tucked behind the iconic 45-foot-tall silos, historical remnants from the original granary operation. Enoteca La Storia plans to open its wine shop called Ancora Vino in Downtown Morgan Hill at 17337 Monterey Rd., the current Murphy’s Mercantile Store. Ancora Vino will be a 2,200-square-foot retail wine shop and tasting room offering 150 wines under $25 and ten different wine clubs.
Read the full Press Release HERE
Shop homemade, custom, artisan products from 35+ home-based vendors at the Sidewalk Saturdays Holiday Market on December 16 from 9a.m-1p.m. BONUS- this event will include a hot cocoa bar by MoHI Farm, a bracelet making station by Luxe, and a photo booth by Memory Spot and bLoom inflatables. There might even be a special visit from a special someone!
Started in 2020 to support home-based and retail small businesses through the pandemic, Sidewalk Saturdays has morphed into a beloved community event embodying the Buy Local spirit. This popular maker’s market located on 3rd street in beautiful Downtown Morgan Hill, features a Spring and Fall season, highlighting 15-25 local makers, between the hours of 9a.m.-1p.m.
Learn more about Sidewalk Saturdays HERE.
According to the Small Business Saturday Consumer Insights Survey commissioned by American Express, reported projected spending among U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday reached an estimated $17.9 billion in 2022.
There are approximately 32 million independent businesses nationwide, employing nearly 61.7 million people. Small businesses are the backbone of your communities, and with 19.6% of small businesses failing in the first year and only 34.5% surviving past 10 years, they need all the support they can get. Founded by American Express in 2010 and officially cosponsored by SBA since 2011, Small Business Saturday has become an important part of small businesses’ busiest shopping season. Take the pledge to Shop Small on Saturday November 25 and support local small business owners all season long.
For a list of Morgan Hill small businesses, visit the Buy Local #95037 Directory HERE.
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