NEW YORK CITY — News headlines such as “Retail Is Dead” have painted a picture of desolation and destruction for the current state of retail real estate in the United States. However, while e-commerce “is the most discussed, it’s also the most misunderstood,” according to Melina Cordero, global head of retail research for CBRE. Cordero’s remarks came during her keynote address at the InterFace Net Lease conference held on Wednesday, Oct. 3. The ninth annual event drew 265 real estate professionals to the New York City Bar Association. Cordero listed a series of myths about retail and e-commerce that lead to apocalyptic headlines that she says are simply not accurate. Myth 1: E-Commerce is Taking Over To illustrate her point, Cordero displayed a chart tracking growth, showing e-commerce outpacing in-store sales. However, when the actual sale totals rather than growth percentages are compared, only 10 percent of retail sales are online. Furthermore, 50 percent of online retail sales go to companies with a brick-and-mortar presence. “Less than 4 to 5 percent of total retail sales are going to online-only players. This is a very different picture than what we’re usually presented,” said Cordero. She cited specific retailers who, while known …
