Commercial real estate services company Levin Management Corp. released results of a survey revealing store managers entered 2025 with a favorable attitude fueled by strong annual and holiday sales volume.
For the second consecutive year, inflation/rising prices topped the list of factors respondents said they believed will have the biggest impact on their retail or service business over the course of 2025. Despite inflation, 24.2% of respondents said they did not raise prices last year, up from 22.5% and 18.8%, respectively, in LMC’s two prior surveys. Of those who did raise prices in response to inflation, 25.4% expect to raise prices further in 2025, down from 30.4% and 34.7% in the two prior surveys, respectively, Levin noted.
The economy/consumer confidence ranked second among anticipated 2025 industry considerations, with shifting consumer expectations and shopping patterns coming in third.
In the poll, 41% of respondents said they are hiring; 17% anticipate expanding, renovating or reformatting their location; and 22% expect to open additional locations in 2025.
“Retailers are working to meet consumers where they are today and that means creating a distinctive brick-and-mortar shopping experience,” said Matthew Harding, Levin CEO. “Our survey respondents ranked customer service and support, and the social experience of in-person shopping as the top two advantages of physical retail over its e-commerce counterpart. Their most popular enhancements fit in that context.”
