on May 07, 2012
ICSC Releases New Office Worker Spending Study—HR&A Findings Confirmed
The International Council of Shopping Centers (ICSC) released a new office-worker spending study, entitled Office Worker Retail Spending in a Digital Age. The study was conducted by the ICSC Research Department, with advice from a committee of industry professionals that included representatives from Macy’s, Target, Rite Aid, Macerich, General Growth Properties, and HR&A Partner Kate Coburn . The committee helped shape the methodology, direction, and scope of the study.
Office Worker Retail Spending in a Digital Age looks at spending patterns of office workers going to and from work as well as typical purchase around their office building. It was based on a survey of 4,000 people across the country. In addition to reporting findings on a national basis, the survey examined spending patterns in urban, suburban, and small towns. The results showed that office workers in areas that are considered well-served by local retail, spend more on average than workers in areas underserved by retail.
This confirms conclusions that HR&A’s retail practice has found in its work around the country and indicates an opportunity to capture office-worker spending by increasing retail diversity and options in these underserved areas.
The study is available for download on the ICSC website.