Chain Stores up 19% on the Lower East Side Last Year
The pandemic of chain stores around Manhattan might be in somewhat of a containment stage, but not so much on the Lower East Side.
Center for Urban Future last week released the annual “State of the Chains 2018” report [PDF], which tracks stats borough-wide. On a macro level, the news appears promising, with a .3% decrease in chain retailers across the city. This is reportedly the first year-over-year drop since the group began crunching numbers a decade ago.
Manhattan chain retail declined 2.3% (loss of 67 locations), yet is still the most overrun borough with 122 locations per square-mile.
(Data is broken down by zip code.)
“The support residents show for local, independent, home-grown businesses is part of the reason our neighborhoods have trended towards less formula retail chain stores,” the report states.
In Chinatown/Lower East Side (10002), though, the trend is opposite. Formula retail increased 19% with eight stores added, bringing the total neighborhood count to 51.
Dunkin Donuts remains the leading chain retailer in the Five Boroughs for the tenth year running, gaining 12 additional locations for a citywide tally of 624.
State of Chains 2018 by on Scribd