- Positive absorption is expected to continue within small shops because of a lack of new retail construction space.
- Entrepreneurs are active in the retail market.
- Personal services and experiential retail are open and expanding.
Rebirth of entrepreneurial spirit
After any economic downturn there is a burst of activity by entrepreneurs looking for new ventures. Many business owners will want to lease a small storefront in quality shopping centers to establish their business. Business applications throughout South Carolina steadily climbed through 2020 and 2021 and reached an all-time high of 9,931 during April of 2021. Additionally, as the pandemic has receded, quick service restaurants (QSRs), discounters, fitness operators, personal services and experiential retail have expanded. For example, QSRs such as Popeyes, Starbucks, Taco Bell & Chick-Fil-A have proven to be successful with the growth of food delivery and take out.
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