A lot of people in Brooklyn truly believe that greedy landlords are the single largest reason why Smith Street; Court Street and Atlantic Avenue are experiencing a lot of commercial vacancies this year … this is a very simple view for a complicated issue … here is an article http://bit.ly/2oL1xw6 written 3,400 miles East of NYC describing how “brick and mortar” businesses are going the way of the dodo.
What is our stock answer when we are asked why a beloved store went out of business for non-retirement reasons ? …. they ran OUT of CUSTOMERS … certain businesses pay a king’s ransom in rent IF they have enough paying customers to remain sustainable …. buying & eating habits all over the world have changed as a result of the internet … commerce will never be the same again because eCommerce is here to stay … hence the title of this blog … the word “whither” means … where is it all going ?
Smith Hanten’s opinion is that stores who sell products (as opposed to services) will have to become an ECBM … a whoa ??? …. a hybrid between an eCommerce and Bricks+Mortar business … an ECBM or as my cousin in Ireland calls it “clicks n’ bricks” enterprise can be busy 24/7 because fixed overheads like rent, insurance, real estate taxes are 24/7.