Are Burqueños Changing their Shopping Style?

The announcement of the opening of a downtown grocery, Silver Street Market (Albuquerque Business First says New grocer coming to Downtown Albuquerque), has folks wondering how such a small store will benefit downtown residents.

The announcement of the opening of a downtown grocery, Silver Street Market (Albuquerque Business First says New grocer coming to Downtown Albuquerque), has folks wondering how such a small store will benefit downtown residents. According to commercial real estate company JLL (Jones Lang LaSalle), such stores may well fit right into how we shop today. Read the following PDF:

JLL-ShopTopic-Grocery-share

Folks in Albuquerque, like folks across the U.S., are certainly following the pattern of segmenting their shopping. Your parents (and grandparents) tended to do all their shopping in a large grocery store, while we are now pretty much going to various places, from farmers markets and small specialty grocers like Trader Joe’s to large bulk super-centers like Costco and Sams, to get what we need for the week (and month…year).

Silver Street Market may not be ideal for folks living in downtown Albuquerque who are tired of having to drive (or bus, etc) into the Northeast or elsewhere to do their shopping, especially since it’s small proposed size of 12,000 square feet, the size of a large Trader Joe’s, is certainly too small to be an all-in-one Supermarket. However, if it ends up having a decent selection of good quality food at reasonable prices, it’s a nice step forward for downtown and seems to fit the trend rather than buck it.

Actually, there’s a couple small markets in the area already, including Lowe’s Market on Lomas, just north of downtown. Like most business ventures, one successful merchant often spawns another. In that sense, Silver Street Market indicates and answers a need and will likely bring more eyes to the area. No question the new store is a win for Downtown Albuquerque.

– Joe LaMastra, January 13, 2015