Downtown Ridgewood, New Jersey, is undergoing a notable transformation as retail spaces increasingly give way to service-oriented establishments. This shift reflects a larger trend across the United States, emphasizing services over traditional retail.
Changing Storefronts in Ridgewood
Ridgewood’s main street has long been a center for shopping, characterized by its accessibility and charm. Joan Groome, who has lived there since 1968 and now runs the Ridgewood Chamber of Commerce, has observed significant changes. Local businesses have had to adapt to waves of big-box chains and banks over the years. Some have thrived, while others, like beloved stationery and hardware stores, have shuttered.
Today, Ridgewood is witnessing a rise in service-oriented businesses. The area now features numerous barbershops, ice cream cafés, and upcoming milkshake shops. This evolution aligns with national trends where more U.S. retail spaces lease to service providers than goods sellers, according to CoStar data.
National Trends in Retail and Services
The shift from goods to services is widespread. Data indicates a decline in retail tenants in the top 20 metropolitan areas for the third consecutive year, contrasted by a rise in personal services like medical spas and fitness studios.
John Mercer of Coresight Research notes that consumers have redirected spending from goods to services over time. Wealthier individuals often lead this trend, with some consumers opting for cheaper goods to allocate funds for experiences. The pandemic briefly interrupted this transition, but the trend has regained momentum, supported by growing interest in wellness and fitness.
Physical Shopping in the Digital Age
Despite the convenience of online shopping, physical retail spaces offer unique experiences that digital platforms cannot replicate. Ridgewood’s evolving landscape reflects this. For example, new eateries and gyms are replacing shops, impacting downtown dynamics. Bookstore manager David Logan observed increased foot traffic due to a new bakery across the street, benefiting from the service-oriented shift.
Gina Jeon, owner of Hot Jewelry Box, shares similar sentiments. She believes that while service-based establishments contribute, they may not replace the value of boutique shops, which encourage frequent visits. Jeon’s store focuses on customization and personal interaction, differentiating it from online retailers.
Ridgewood’s Unique Appeal
The changes in Ridgewood’s downtown highlight a broader trend influencing markets nationwide. While some question whether these developments enrich the town’s character, they undeniably draw new visitors seeking experiences beyond shopping, such as dining and leisure activities. Despite the evolving retail landscape, Ridgewood continues to offer a unique blend of commerce and community.