Word: retailing
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Dates: during 1960-1969
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...Business investment, led by an estimated 3½% gain in plant and equipment spending, was stronger in the first quarter than Government economists had expected. Housing starts, at their 1,500,000-a-year February rate, have risen 35% from last year's low. Retail sales, which climbed for the third straight month during March, were propelled by a significant rise in consumer spending...
Other things become immobile, too. While U.S. retail stores and services are cashing in on the new leisure by lengthening their open hours, Russia's have tended to close up with the factories. Short-stocked Muscovites, who have been used to shopping on weekends, set up such a howl when stores started closing down for two days that the city council recently ordered Sunday reopenings for some grocery stores, shoe-repair shops and department stores. The two-day weekend has also been adopted by subway stations, clinics, state banks and libraries, frustrating everyone from moviegoers to Russia...
Last month the U.S. Food and Drug Administration acknowledged that there are many solvents and cleaning agents just as effective as carbon tet but less likely to cause serious illness. It began a series of legal moves to forbid the interstate shipment of carbon tet for retail trade. If the FDA's drive succeeds, it will be up to the individual states to stop intrastate sales of a useful but dangerous chemical. One straw in the wind: the U.S. Coast Guard recently withdrew approval of carbon tet fire extinguishers on boats...
Though Northglenn will be the Denver area's fourth major new shopping center in two years, that splurge only symbolizes the vast change that has overtaken retailing. In the past ten years the number of shopping centers in the U.S. and Canada has quadrupled to 10,900. Last year they accounted for an estimated 39% of retail sales. And shopping-center experts predict that nearly 80% of North America's new retail space will go into the 650 shopping centers being built and the thousands more being expanded this year at a cost of $4.3 billion...
...calls "a new wave of innovation." With realty taxes, land and construction costs constantly escalating, says Vice President Andrew L. Murphy of Allied Stores, "the future of the shopping center is vertical." He foresees the demolition of many of today's thriving centers and their replacement by towering retail-office-apartment complexes. Some centers are already growing into such minicities. Developer Raymond D. Nasher has begun work on a "platform city" in Atlanta, and he expects to expand his handsome NorthPark center in Dallas into a similar amalgam of rental housing, hotels and parks. A Cleveland developer this week...