Fit Out Cost Guide 2025 | Retail

Consumer Spending Has Been Strong But has slowed down over the last two months

Real Consumer Spending: Index (Jan 2019 = 100)

Real Consumer Spending Groups: YOY Change

120

Electronics

6.7%

115

Furnishings & Durable Household Equip.

110

5.8%

105

Sporting Goods

5.3%

100

95

Grocery

2.4%

90

Clothing & Footwear

1.8%

85

Food Service & Bars

80

-1.3%

2019

2020

2021

2022

2023

2024 2025

Source: U.S. Census Bureau, Cushman & Wakefield Research

Net Retail Store Openings and Closures Store closures continue to outpace openings

2,500 2,000 1,500 1,000 500 - (500)

(1,000) (1,500) (2,000) (2,500) Number of Stores

Convenience, Discount & Grocery

Apparel, Footwear, Acc. & Beauty

Electronics, Home & Office

Luxury, Department Store & Other

2022 Net Store Openings

2023 Net Store Openings

2024 Net Store Openings

2025 YTD Net Store Openings

Source: Coresight Research (U.S. Store Tracker) Note: 2025 YTD data is through Q1, Cushman & Wakefield Research

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Retail Fit Out Cost Guide 2025