Retail Report
The Rittenhouse Row commercial area is in a state of change - a metamorphosis. The change is visible now.
The Rittenhouse Row non-profit organization is responsible for creating commerce + community for industry-leading global lifestyle brands and independent local entrepreneurs around Rittenhouse Square- between the Avenue of the Arts to the Schuylkill Banks, from the Parkway to South Street
In commercial real estate speak - Rittenhouse Row is our high street.
The differentiating factor that makes this commercial area special is a unique blend of sophisticated home-town entrepreneurs who own upscale lifestyle businesses—fashion, beauty, fitness, food and beverage AND industry leading national brands.
With the exception of a few who closed during the pandemic shut down- our local independent category has remained incredibly strong- and has expanded. Our national category saw a major reduction - due to Covid/the social justice movement that resulted in vandalism on May 30, 2020, and downtown consumer counts severely reduced due to an absent office and tourism market.
The correction is evident-- and brings a group of exciting, high-end, discoverable and socially responsible brands to Rittenhouse. The stores are upscale, sophisticated, modern brands that are discoverable, covetable, more sustainable and have a feel-good component. Some of them may be ones you may not have heard of…there is West Coast cool and relaxed lifestyle coming to Rittenhouse Row.
WHAT’S HAPPENING + WHY?
Our local independent stores have pulled through. Locals are now the GIVENS. Many are family businesses, own the buildings, not quitting and not going anywhere. The nationals are what’s new.
.The national brands are fueled by capital from investors, who are backing companies retail companies that are smart, sustainable, fashionable and provide high consumer value. Omni-Channel success equals retail success. Retail today works when there is a strong online component, a strong social media component, and a relationship with the customer that is grounded in emotion. Retail is not dead at all—and it is smart retailers who understand their customer preferences-who succeed.
We have numerous landlords—and executing a streamlined, cohesive vision for a retail district that reflects one succinct lifestyle has always been a challenge.
A cadre of really smart and intuitive real estate brokers, representing landlords and tenants alike, collaborated to create a shift that will be visible on the street. This truly talented group of tastemakers supports Rittenhouse Row with an acute sense of what will work now. Important to the change, is embracing who we actually are as a community—with pride and a realistic sense of what we care about and how we live. There is also no pretense. That said, we love luxury, and love fashion.
WHO IS THE RITTENHOUSE CUSTOMER NOW?
A culmination of a pronounced and evolved Rittenhouse Row lifestyle that has specific preferences, behaviors and nuances. The Rittenhouse customer is committed to fashion that has value and is of good quality. Rittenhouse customers are practical and smart shoppers. The customer is mobile-and uses the attributes of the city and needs to be dressed for it. Going out to eat is an essential part of Rittenhouse social life, and the customer wants to be dressed for it. Likewise, selfcare and exercise is important, and the customer wants to be dressed for it. We love dogs, spending time in nature, boutique wellness and supporting causes.
We also like to be known—so the retail experience where a sales associate doesn’t see us as a real person—doesn’t work. The customer likes to establish a relationship and rapport with the team at a store. So many of the concepts that closed did so because they did not integrate with the community. We are a small town
in a big city, and Main Street best practices should not be forgotten.
KEY PLACES WHERE CHANGE IS HAPPENING
The overall shift in uplifting the visual and the mood will be the sum of external visuals, and energy that comes from within. Places where change is happening include:
The repositioning of The Bellevue-1400 block of Walnut
The refilling of the giant space, formerly that housed the Gap-1500 block of Walnut
New upscale brands filling spaces that held brands that left in the pandemic-1600-1700 block of Walnut
Construction of two new apartment towers: from Pearl on 19th Street between Chestnut and Sansom, and from Southern Land Company at 1620 Sansom, The Josephine
Avram Hornik’s Walnut Garden on the 1700 block of Walnut where the building burnt down from the George Floyd protests
Rescue Rittenhouse taking over the space formerly occupied by Barneys-1800 block of Walnut
The opening of the Laurel, ultra-high-end condominiums-1900 block of Walnut
Local independents filling in on number streets. 15th 16th 17th 18th 19th 20th 21st 22nd. The neighborhood is cool because it’s not just one commercial street—it’s a whole grid of them—with a really great park in the middle, and a wonderful office collection on one side.
Re-Sizing: Walnut used to have lots of skinny, chic little buildings…they were narrow, had gorgeous original architecture, and were largely occupied by local small businesses. Then came a new retail trend—big modern boxes with bigger footprints, big windows, lots of storage—and many of our spaces became renovated and supersized. Now that some of the tenants are essentially showrooms—the inventory space isn’t needed, and smaller spaces are en vogue.
For More Information:
Contact Corie Moskow, Executive Director
@rittrow #rittrowlove
Own or run a business in the area? Connect with us at rittenhouserow@glosspr.com