Carnegie Market Blog

 

Higher Rates and the City of Champions

Posted by Brent Luce on Nov 2, 2016 4:31:34 PM

Mobile Internet Usage

For the first time ever, mobile internet usage has surpassed desktop internet usage.  In my house, I think this happened about four years ago.  The most interesting part of this chart to me is how fast things have changed.  Just five years ago, almost all internet usage came from desktops.  This rapid change means (among many other things) that every business should have a mobile-friendly website.  In the U.S. at least, I bet that most work-related internet use still comes from desktops/laptops and that most personal use comes from mobile.  MORE:  Mobile vs. Desktop in the World of Millennials  

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Topics: Cleveland, Inflation, TV viewership, mobile Internet Usage

Restaurants are the New Retail

Posted by Brent Luce on Jan 28, 2016 3:42:42 PM

Restaurants are the New Retail

I can’t speak for other cities, but in Cleveland there has been an  influx of new and great   It occurs to me that restaurants are becoming the new retail.  In the past, people would go shopping at the mall and much of the fun was about the experience of going to the mall, not necessarily about buying things.  Now, people are making more purchases online and malls seem to be dying.  Instead of going to the mall, however, people are spending their free time on culinary experiences.  People are thinking of going out to eat as more of a social experience than just a way to fill their stomachs. As you can see below, restaurant sales now exceed grocery store sales for the  first time ever.  The bottom chart shows that over the past year, restaurant stocks have significantly outperformed the market, while department stores have significantly underperformed.  Is this a short-term coincidence or a reflection of a long-term trend shifting from traditional retail and toward culinary experiences?  Related:  Celebrity Chefs Feed Cleveland Real Estate

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Topics: Restaurants, Cleveland, Oil Prices

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