Major Retail Closures Ripple Through Local Economies, Hurting Nearby Small Businesses
• When big retailers like movie theaters shut down, it can significantly hurt the sales and visibility of neighboring small businesses that relied on the foot traffic they generated.
• The closure of major traffic drivers causes broader economic impacts like job losses and reductions in local tax revenue.
• Location matters most - small retailers fare better in prime, high-traffic retail centers rather than struggling locations.
• Grocery stores remain the most reliable anchor tenants that drive consistent shopper traffic beneficial to surrounding stores.
• If a grocery store vacated a retail center, it would likely devastate many of the other retailers relying on the steady foot traffic it created.