VOICED: Big brands crowd out luxury boutiques in New York

The video discusses the opening of a luxury store on Madison Ave amidst a lingering recession, highlighting the ability of global brands to expand. It covers the real estate shakeup on Madison Ave due to rising rents and decreased consumer spending, which has forced small businesses to relocate. The video also explores how some businesses have moved to Lexington Ave, where rents are cheaper, forming a mini Madison Ave with a focus on personal service-oriented businesses.

What is the main focus of the luxury store that opened on Madison Ave?

• Luxury items like fur and animal skin

• Affordable fashion

• Home appliances

• Technology gadgets

What has caused small business owners to leave Madison Ave?

• Increased competition from online stores

• Rising rents and decreased consumer spending

• Lack of parking spaces

• Poor public transportation

How have big brands affected the real estate market on Madison Ave?

• They have made it easier for small businesses to thrive

• They have taken over prime locations due to rising rents

• They have increased the demand for small retail spaces

• They have decreased the property values

Why did some businesses move from Madison Ave to Lexington Ave?

• To be closer to public transport

• To access better internet facilities

• To benefit from lower rent costs

• To find a larger customer base

What type of businesses are forming on Lexington Ave?

• Large global brands

• Personal service-oriented businesses

• Fast food chains

• Technology startups