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‘In Business Dailies’ Most Views Last 30 Days Here are the stories with the most views over the past 30 days (prior to press time) that were features in our In Business Dailies. The In Business Dailies hit email inboxes
Holiday Season Retail: Shoppers Will Make Up for Lost Time JLL recently surveyed U.S. consumers to find out how they intended to shop for the holiday season … and the news is good for the retail sector. Shoppers plan to spend 25.4% more this holiday season than in 2020. That’s a rise from an average $694 per person last year to an average $870 per person this year — getting us back to almost pre-pandemic levels. Phoenix’s comparatively lighter COVID restrictions already had helped push our market further along the recovery trajectory than some other major metros. As we approach the holidays, the local retail sector can look forward to an additional boost, as 58% of shoppers plan to visit stores or conduct some form of shopping that involves a physical store. That includes 34% who plan to buy online but pick up in store, and 22.6% who will use curbside pick-up. The top five retailers on shoppers’ list this year: Amazon, Walmart, Target, Macy’s and Kohl’s. Pent-up demand has also accelerated “revenge shopping” — where consumers make
up for lost time with increased spending and “self-gifts” that they buy for themselves along with the gifts they buy for others. According to our report, more than 70% of shoppers plan to self-gift this year, particularly with shoes and clothing that they need to support a return to the workplace. Still, a top priority for holiday shoppers is saving money. Buyers will be paying close attention to the affordability of the goods they’re purchasing at mass merchandisers, online and in department stores. JLL’s one caution: inventory. With the supply chain still facing pandemic-related challenges, there is an increased chance of inventory shortages and shipping delays — especially for the roughly 4% of survey responders who said they would wait until the week before Christmas to begin their shopping. The best way for shoppers to shop for success: start early! And this may be a phenomenon for retailers to keep in mind. —John Reva, vice president at JLL (www.us.jll.com/en)
Splitting the Homebuyer/ Agent Commission Homie, a disruptive real estate technology company changing the way homes are bought and sold, recently implemented a 50/50 program that offers buyers an opportunity to get a rebate of up to 50% of the offered buyer agent commission when also using other Homie affiliated services such as Homie Loans, Homie Title and Homie Insurance. “Our goal at Homie is to change the way homes are bought and sold by cutting high fees and commissions,” says Johnny Hanna, co-founder and CEO of Homie, whose company has reported tremendous growth locally since entering the Phoenix market in 2018. “Today’s
market is more challenging than ever for buyers and we want to help ease that process. 50/50 allows buyers to get their dream home while keeping up to 50% of the commission.” These savings can be used toward closing costs or to make a higher offer to win the home. Homie Loans also recently launched its Homie CashTM program that allows buyers to make cash offers to drastically increase their chances of winning the perfect home. The 50/50 and Homie CashTM programs give buyers the opportunity to land the house they want and save on commission while doing it. —Mike Hunter
twice each weekday — at 9:30 a.m. and updated at 4:30 p.m. Sign up today at www.inbusinessphx.com/dailies-signup Economy & Trends | Cover Story | November 2021
Is Every Company a Tech Company?
Technology is driving the economy – where do you fit in? by RaeAnne Marsh Technology is indisputably an economic driver as a sector. Is it also a driver of successful growth in other sectors? “The technology industry is critical to economic growth in any community today because it not only produces high-wage jobs, but also supports many other industries,” says Eric Miller, principal and co-owner of Phoenix Analysis & Design Technologies. Economy & Trends | Feature | November 2021
Electric Vehicles Are Hot for Arizona
Showrooms and manufacturing facilities strengthen the industry here by RaeAnne Marsh There was a time when going to the mall meant shopping for clothes and home knick-knacks – offering a lot of choices thanks to there being a number of stores conveniently in one place. Now, it can mean shopping for one of an individual’s biggest purchases: a car. Economy & Trends | inbusinessphx.com | October 29 2021
Has the Government Created a Housing Crisis by Penalizing Fannie Mae? inbusinessPHX.com
There has been much discussion about the inflated housing market in recent months. But what about the continuing problems of high rent and low-income earners who need government assistance to find shelter? Government & Compliance | inbusinessphx.com | October 25 2021
Governor Ducey Announces $3.5 Million to Assist Arizonans, Small Businesses State of Arizona Office of the Governor Governor Doug Ducey today announced $3,575,000 to support programs that help Arizonans and small businesses recover financially from the effects of the COVID-19 pandemic.
Homie homie.com
To cope with inventory shortages, 58% of retailers plan to raise prices; one-third plan to increase prices by 40% or more; 53% of small business owners anticipate inventory shortages through the 2021 holiday shopping season. digital.com/global-supply-chain-delays-will-impact-1-in-2-small-retail-businesses-this-holiday-season
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