How Trump’s Proposed Tariff on Chinese Goods Could Affect the Marketplaces Industry
Facing the threat of a hefty trade tariff, some retailers may be racing to import goods from China ahead of Donald Trump’s return to the White House. The Maritime Executive cited freight management software provider Xeneta’s prediction that retailers “may take advantage of a narrow window” for stockpiling Chinese products before Trump’s Jan. 20 inauguration. Trump promises to impose a tariff of up to 60% tariff on U.S. imports of Chinese goods, as well as 10% to 20% tariffs on all other imports.
In 2023, the U.S. imported $426.9 billion worth of Chinese goods, according to the U.S. Census Bureau. China is, by far, the No. 1 source of cheap imports into the U.S. A 60% tariff would raise the cost of Chinese goods, and many experts anticipate consumers will bear much of the burden in the form of higher prices.
Tanger president and CEO Stephen Yalof told Bloomberg Open Interest that higher prices could prompt shoppers to buy merchandise where they can get “the best bang for their buck” like Tanger’s outlet centers. Watch that video below.
Meanwhile, GlobalData Retail managing director Neil Saunders told Retail Dive that in the retail sector, “the Trump victory brings a mixed bag of positives and negatives, with a large dose of uncertainty.” Retail Dive further reported: “Dollar stores are especially vulnerable to tariffs, while Walmart and Target are best positioned to withstand their effects, according to Wells Fargo analysts led by Edward Kelly.” Aside from dollar stores, retail segments that could be hit hard include furniture, appliances, toys and apparel, Barron’s reported.
When It Comes to Retail Completions, Texas Shines
The Retail Connection, partnering with the Butler family, broke ground on Oct. 17 on the Manor Crossing near Austin, Texas. The 150,000-square-foot property sits between H-E-B and The Home Depot.
The Lone Star State, home to eight of the U.S. cities that grew the fastest from 2022 to 2023, shines bright in terms of retail development. According to CBRE, five of the 10 U.S. markets where the most retail has been completed on a four-quarter rolling basis as of the fourth quarter are in Texas.
Square Feet of Retail Construction on a Four-Quarter Rolling Basis as of the Fourth Quarter
| 1 | Houston | 2.7 million |
| 2 | Dallas | 1.68 million |
| 3 | Austin | 1.49 million |
| 4 | Phoenix | 1.37 million |
| 5 | Atlanta | 1.35 million |
| 6 | Orlando | 1.31 million |
| 7 | Miami | 1.1 million |
| 8 | San Antonio | 893,000 |
| 9 | Nashville | 811,000 |
| 10 | Fort Worth | 810,000 |
| Source: CBRE Econometric Advisors |
“Retail developers are increasingly focusing on markets with rents high enough to justify construction costs or where strong population and economic growth offer long-term potential returns,” CBRE said in a report. “Many Texas markets offer developers a growing consumer base, more affordable land and lower construction costs than other regions.”
MORE FROM C+CT: Retailers Need to Grow and Are Willing to Pay for It, Making Redevelopment Pencil Out
Mall of America Prepares for 250,000 Black Friday Visitors
If all the visitors expected to roam the Mall of America on Black Friday lived in one place, they’d collectively make up the third largest city in Minnesota, behind Minneapolis and St. Paul. The Mall of America is preparing to welcome 250,000 visitors on one of the year’s busiest shopping days, chief business and marketing officer Jill Renslow said on a recent episode of The Glossy Podcast.
Typically, a couple of thousand people gather outside the front doors ahead of opening on Black Friday, according to Renslow, “and we don’t even need all the traditional doorbusters. People come for the tradition and the fun experience of Black Friday, and we — starting about 10 years ago — close on Thanksgiving. … Being able to put all the focus on Black Friday has allowed us to do it like no other.”
The 5.6 million-square-foot shopping and entertainment complex in the Minneapolis-St. Paul suburb of Bloomington features 520 stores and restaurants, a seven-acre indoor theme park, an aquarium and other attractions. The 32-year-old Mall of America annually draws 32 million visitors, 40% of whom are tourists.
Southeast Asian Cuisines Will Take Spotlight in 2025
A Southeast Asian culinary invasion may be upon us. In the National Restaurant Association’s 2025 What’s Hot Culinary Forecast, Southeast Asian fare takes “center stage.” For example, Filipino, Korean and Vietnamese cuisines rank high in the forecast’s Dishes category. Meanwhile, a pantry full of Southeast Asian items nabbed top-five spots in the Ingredients and the Flavors & Condiments categories.
“The popularity of Southeast Asian flavors … speaks to a more adventurous consumer palate, with many diners interested in global cuisine that brings added depth to their dining experiences,” said Chad Moutray, vice president of research and knowledge for the association. For its 2025 outlook, the association surveyed nearly 300 culinary and industry professionals in the U.S.
Meta Meets Consumers Face to Face with Pop-Up Shops
Through the end of the year, Meta Lab’s Los Angeles pop-up will help visitors experience Ray-Ban Meta smart glasses.
Be on the lookout for pop-up shops from Meta, the owner of Facebook. At its corporate headquarters in Menlo Park, California, the tech giant offered a sneak peek on Nov. 7 of its Meta Lab pop-ups, which will showcase the artificial intelligence-equipped Ray-Ban Meta smart glasses. The next day, Meta debuted a temporary brick-and-mortar store in Los Angeles. Another Meta Lab pop-up, this one a store-within-a-store, is set to open in January in Phoenix.
On its website, Meta said the pop-ups focus on “experiential retail.” At the Menlo Park pop-up, for instance, each visitor received a pair of Ray-Ban Meta glasses to capture photos and videos. The files then were downloaded for the visitors to keep. “That’s a lot different than going to a big-box store, right?” said Meta creative director for augmented reality Matt Jacobson. “When you let somebody try out a pair of Ray-Ban Meta glasses, you become the best salesperson ever. Getting these on people’s faces so they could play with it and discover Meta AI — that is really magical.”
Sales at Building Supply Stores Are Speeding Up
In October, sales at U.S. building supply stores rose year over year at the fastest pace in two years, based on advanced, seasonally adjusted data from the U.S. Census Bureau. That may owe to Hurricanes Helene and Milton, according to ICSC research manager Matthew Panfel. Total retail and food services sales minus automobiles and gas rose 3.8%, compared with 3.9% in September.
U.S. Retail and Food Services Sales: October Year-Over-Year Change (advanced, seasonally adjusted)
| Nonstore | 7% |
| Restaurants and drinking establishments | 4.3% |
| Miscellaneous store retailers | 4% |
| General merchandise stores | 3.1% |
| Clothing stores | 2.9% |
| Building supply stores | 2.8% |
| Food and beverage stores | 2.7% |
| Health and personal care stores | 1.6% |
| Furniture stores | 1.5% |
| Electronics stores | -2.3% |
| Sporting goods, hobby, book and music stores | -3.4% |
Which Malls Are Sleighing It in the Santa Department?
’Tis the season for mall Santas, the cheerful, rosy-cheeked hired helpers who repeatedly pose for pictures with youngsters and endure more than a few spit-ups and temper tantrums. So which malls are drawing the most interest from candidates interested in St. Nick’s job this holiday season? According to the ZipRecruiter job website, MainPlace in Santa Ana, California, is the top-searched property for Santa jobs. Other malls along for the sleigh ride include Magic Valley Mall in Twin Falls, Idaho; La Plaza in McAllen, Texas; Brea Mall in Brea, California; and Windward Mall in Kāneʻohe, Hawaii.
How much cash can mall Santas earn to stuff into their stockings? Nationally, according to ZipRecruiter, the average hourly pay is 24 bucks — the money variety, not the reindeer variety.
By John Egan
Contributor, Commerce + Communities Today