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E-Commerce Driving Bigger Demand for Smaller Warehouses, CBRE Says
With growing e-commerce and consumers expecting faster shipping times, the demand for small warehouses is soaring. “Rents for US warehouses of between 70,000 and 120,000 square feet rose by more than 33.7 percent over the past five years, to an average of $6.67 per square foot, according to real estate consulting firm CBRE Group Inc. Availability for such spaces plunged to 7.4 percent from 11.3 percent during that same period, the biggest drop of any segment in the broader warehouse market.”
Dollar General Boosts Digital Strategy
Dollar General is testing an initiative that will enable consumers to shop online and pick-up items at nearby store locations. “The discount retailer with about 16,000 stores in 44 states plans to test the system in the coming months, initially through a mobile app.”
Twitter Admits It Used Info Shared for Security to Target Ads
The social platform has admitted that it “inadvertently helped advertisers target ads using personal data users provided for account security. The company said in a statement on its blog that the data used for targeting included email addresses and phone numbers—information likely provided by users to set up two-factor authentication protection for their accounts.”
Sheetz Invests $16.8M in Wages for Its Store-Level Employees
The c-store is investing heavily in wages to become more competitive in hiring. “As a family-owned and -operated business, we know our employees are our most valuable asset,” says Travis Sheetz, President of Sheetz Inc. “We are deeply committed to investing in our employees and creating a great working environment where they feel valued and have the resources they need to succeed.”
Corporate Social Responsibility
California Bans Hotels from Using Tiny Plastic Bottles
The Golden Atate is cracking down on single-use plastics in the hospitality industry. “Gov. Gavin Newsom announced Wednesday he had signed a law banning hotels from giving guests plastic bottles filled with shampoo, conditioner, or soap. It takes effect in 2023 for hotels with more than 50 rooms and 2024 for hotels with less than 50 rooms. Violators could be fined $500 for a first offense and $2,000 for subsequent violations.”
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