By: Dan Adamski, Managing Director, JLL
For the first time in years, filling up isn’t getting us down.
Diesel prices sitting below $3 are welcomed by consumers, especially as the holidays arrive. In June of this year, gas prices reached $3.68. Now, they’re as low as $2.73, according to AAA. The drop in gas costs hit quickly, and its impact on multiple industries varies.
The Situation: Oil Prices Fall Worldwide
For the first time in five years, the price of one barrel has dipped below $70, which is down from more than $100 per barrel in the last five months. Causes for the drop in costs include:
- Excess supply and little slow down in production
- Drop in overall demand, due to slower economic growth in China and lower levels of oil consumption in Europe
- Strict fuel standards (good news for the environment) and a sharper focus on energy efficient practices
The biggest cause, however, is supply. There are three million more barrels a day in the global market now than there was in 2011. Combined with a new focus on sustainability and weaker demand, it’s no wonder that prices have decreased.
Commercial real estate is a dynamic industry. Keep up with Spaces’ monthly recaps of the most valuable industry articles we’ve recently come across, focused on news in Ohio, Michigan and Pennsylvania.
Calling All Brick & Mortar Retailers: Tips to Stay Competitive (VIDEO)
E-commerce has forever changed the face of retail. So much so, in fact, that many brick and mortar retailers are asking, ‘What is the modern role of physical retail space?’
With more and more choices available to consumers online, retailers will need to bet on a brand experience (online and in-person) that differentiates against the competition. JLL research suggests retailers also maximize in-store value through innovative architecture, strong brand identity, positive economic responsibility and flexibility when it comes to technology and change.
How can your brick and mortar store outpace the competition? Check out JLL’s video for more information on the redefined landscape of retail.
Deloitte reported that total holiday sales are forecasted at $981 to $986 billion, up from $602 billion spent last year, according to the NRF. That’s a lot of potential business—and competition—for retailers.
Not surprisingly, new data from JLL’s 2014 Holiday Sentiment Report found that 77 percent of retailers still feel the holiday season is their most critical time. The survey, which includes feedback from more than 800 national and global retailers in JLL-managed shopping centers across the country, also found that the number of in-store shoppers is expected to increase, or remain stable, this year.
Why does it matter? Retailers have the chance to compete with e-commerce, and create a charming, memorable customer experience.
JLL’s survey revealed a few ways in which retailers are going above and beyond this holiday season.… Read More
Business success is dependent on employee happiness, productivity and progress. Ultimately, it all comes back to the people behind the job.
Here at JLL, we champion culture that’s committed to community betterment and individual growth. In fact, Forbes named JLL among America’s Most Trustworthy Companies in 2013. And this year, InformationWeek selected JLL among its Elite 100, which includes top business technology innovators in the U.S.
Closer to home, two of our local offices have been also been recognized as Top Workplaces. The Pittsburgh Business Times recognized the Pittsburgh office among the Best Places to Work in Western PA 2014, and the Detroit Free Press selected its local office as a 2014 Top Workplace.
Here’s why.… Read More