finance

New York retail shifts as off-price stores capture 66% of visit share

Off-price stores now capture nearly 66% of visit share as of Q1 2026 in New York, while traditional department stores like Saks decline and Macy's gains traction.

By The Daily New York · Published July 24, 2026

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New York retail is undergoing a 'sea change' where off-price stores now capture nearly 66% of visit share as of Q1 2026, while traditional department stores like Saks decline and Macy's gains traction, according to [47].

Upper Fifth Avenue in Manhattan is confirmed as the world's most expensive retail street by rents, with luxury brands like Chanel and Moncler opening or expanding flagship stores there, as reported in [47].

Herald Square average asking rents rose from $383 in late 2025 to $412 in mid-2026, driven by demand for larger stores such as a new 40,000-square-foot TJ Maxx at Herald Towers, according to [47].

Despite a strong recovery narrative from REBNY, Manhattan retail employment remains 20.4% below pre-pandemic levels, with storefront availability still tightest in SoHo, Madison Avenue, and the West Village, as stated in [47].

Sources: perplexity-sonar.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.

References Sourced but Not Limited to:

therobinreport.com · New york is experiencing a retail sea change

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