2018-2019 Miami Retail Major Markets Report

RETAIL CHALLENGES INMIAMI-DADE

eCommerce Acceleration Impact on Store Closures

15.0%

16.0%

14,000

eCommerce portion of retail sales up 490 basis points 10.1%

14.0%

12,000

12.0%

10,000

10.0%

8,000

8.0%

6,000

6.0%

4,000

4.0%

2,000

2.0%

0

0.0%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Major Chain Closures

Forecast Major Chain Closures

eCommerce % of Total Retail Sales

Source: Company filings, Department of Commerce, Cushman & Wakefield Research

What’s Really Happening? It’s Not Just About eCommerce Convergence of Four Factors

ACCELERATIONOF NEWCOMMERCE

OVER-RETAILED MARKETPLACE

SHIFTING CONSUMER PATTERNS Millennials’ Spending Habits

RACE-TO-THE-BOTTOM DISCOUNTING

MIAMI RETAIL MAJOR MARKETS REPORT

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