New York City Retail ViewPoint - Short-Term Deals: Part of the Evolving Retail Market - August 2018
One noticeable consequence of the ongoing correction in Manhattan's retail market is the increased prevalence of pop-ups and short-term deals.
Short-term deals can be divided into two categories: pop-up and short-term leases. Pop-ups can be seasonal or used as a marketing tool to create excitement over a new concept or offering, while short-term leases allow a retailer to test the market at minimal risk.
From the analysis of the recent uptick in short-term deals, noticeable trends in which kinds of retailers are signing short-term deals and where they are clustered have emerged.