You’ve seen the headlines about major layoffs and store closings at big legacy businesses: Sears, Ann Taylor, Lane Bryant, Gymboree, Macy’s. All are cutting back on brick and mortar investments, which in turn means fewer jobs and storefronts vacancies.
How is this playing out in Chicago? A Bloomberg analysis showed Chicago has a terrible ratio of retail space to spending power. While our population is shrinking, available retail space is growing. Is this cause for worry? Are e-commerce giants like Amazon going to crush mom and pop stores? Our publisher, Mike Fourcher asked our panelists, new Chicago Business Affairs and Consumer Protection Commissioner Rosa Escareño, Illinois Retail Merchants Association General Counsel Tanya Triche, Little Village Chamber of Commerce Executive Director Jaime di Paulo, and SVN Chicago Commercial Senior VP Wayne Caplan for this week’s episode of The Aldercast.
Special thanks to Mac Strategies for sponsoring this event, and to WGN Radio for helping us with the recording. Got questions, comments, or corrections? Send us an email: email@example.com.