The recession may be “over”, but a shopper walking down Wisconsin Avenue or M Street might see the area’s vacant buildings and “going out of business” signs and get a completely different picture of how Georgetown’s businesses are faring.
After taking such a walk and learning that Commander Salamander would soon be joining the list of Georgetown stores that had either closed or moved in the last year, Vox decided to try to get a clearer picture of the area’s economic climate by talking to James Bracco and Nancy Mirahira at the Georgetown Business Improvement District and John Asadoorian, a retail broker who represents property owners and stores like Rugby and Georgetown Cupcake.
Although some retailers have suffered recently, Georgetown’s businesses weren’t hit any harder than other commercial districts, according to Bracco, the executive director of the BID.
“People are just shopping a little smarter now,” he said, citing the country’s still high unemployment numbers. ”Those are all potential consumers who don’t have money in their pocket to go buy a new pair of jeans, much less a designer couch.”