Quote:
Originally Posted by Gatorade_Jim
This has kind of perplexed me since I moved here. Boston, DC, and NYC all have downtown high end luxury stores. Seems like Philly is moving in that direction with Rag & Bone, Faherty, etc. Although I hope that doesn’t come at the expense of stores I can actually shop at like Uniqlo. I’d also love to see retail fill
In from Broad to 15th and then past 18th. 19th feels a bit desolate past La Colombe before Target
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Well clearly the issue is that Philadelphia the city has a lower spending power compared to NYC, DC, and etc. we have richer suburbs so it makes sense why "high class" stores are in KOP, and the like, and not in Center City.
We all know a good amount of the population is lower on the income scale so it doesn't make sense to have a street like Walnut or Chestnut with all "High class" Stores when the majority of the population can't even afford it.
Now as we see with the shift in people moving from NYC to Philly, and the city improving and growing we are seeing projects such as Arthaus or the Laurel showing the income is increasing, and high income things will follow.
The market is only gonna put out what it can bear.
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