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8.A. - Page 39 of 56 <br />The shift in demographics and consumer preferences is also affecting retail shopping. The new <br />Millennials and Gen Z generations seem to shop differently than preceding generations, often delaying <br />the purchase of large consumer focused items (homes, cars,) until much later in life. Many couples that <br />follow the trends of these demographic groups for shopping prefer used clothing and furniture items or <br />subscription shopping programs like Stitch Fix which provide personalized shopping services online that <br />customize clothing choices for the customers and then ship the selected items to them. The end result is <br />the visible reduction the number of brick -and -mortar retail shops that sell these goods. <br />There are bright spots in the retail industry. Restaurant sales is one sector showing positive growth in <br />the last 18 months (Jan 2018 to Jun 2019), with a sales increase of over $55 billion that elevates total <br />estimated restaurant sales at $744 billion for 2019. Although looking at a year -by -year change, there <br />was a one percent drop in sales from June 2018 to June 2019. This drop in sales likely results from food <br />delivery charges borne by restaurant chains. Competing with the online food delivery services is a <br />challenge for many restaurant chains. <br />While numbers for July and August are not yet available, anecdotal comments from the landlords in the <br />Bay Area indicate construction and operational costs for restaurants are escalating and many <br />restaurants are downsizing their prototype operations, or walking away from planned store locations <br />altogether. Below is a list of some restaurant tenants that have announced expansion plans for 2019 <br />along with the number of stores they intend to open. <br />259 <br />Plans for 2019 Restau rant Count Growth <br />Star hLK k s <br />500 <br />ChipoxlQ <br />150 <br />Domi no's <br />150 <br />Dunkin' Donuts <br />ISO <br />Tropical Smoothie <br />130 <br />Taco Bell <br />100 <br />Ch i ek F1 I -A <br />100 <br />wingstop <br />100 <br />Panda Express <br />7S <br />JorsoyAMkes <br />- 65 <br />Freshii <br />50 <br />Pa payor <br />AO <br />JimmyJohn's <br />40 <br />Cinnahnn <br />40 <br />812xe P Qza <br />40 <br />Wandys <br />40 <br />Souraa!MiLr CompanfrlEo-porls <br />0 104 201k 300 400 5N 600 <br />259 <br />