New York – Is the kosher market recession proof?

This is a question many are asking in light of the continued expansion of many retail markets that cater to kosher as well as the new openings in recent weeks in many areas, particularly in the New York metro area. Even family-owned markets are into the upgrade mode with an increasing number of younger consumers preferring modernized and well laid out stores.

According to Michael Stoler, whose real estate report was a prominent feature in the now defunct New York Sun and on WINS 1010, “the credit crisis, recession and inflation is having only a limited effect on the opening of new gourmet groceries and food markets.” While the kosher market points to the opening of such super modern stores as the Pomegranate, Stoler lists the 69,000 square foot Whole Foods Market that opened in July at Greenwich and Warrent Street in the Tribeca section of Lower Manhattan. The store represents the fifth Whole Food Market in Manhattan that feature many kosher certified products. While some of the new stores were planned well before the recent economic downturn, Stoler and industry officials say that many new stores are being planned. Trader Joe’s is said to be planning a large store in the Williamsburg section of Brooklyn.

Some kosher sources are calling the increased tempo of modernizing and upgrading stores “a bug that cannot be stopped.” They say that even small mom & pop marts are now looking to offer shoppers a better and “more modern” shopping experience.

(Source: Kosher Today)