Tech isn't the Only Way to Stay Ahead – Have You “Theme Park-ified?”
Dave Weinberger, the VP and director of engagement at CBX, the brand agency and retail design consultancy, has come up with four trends that have everything to do with improving retail's position but having very little to do with technology. Posted recently on Chain Store Age magazine's website, he refers to them as “Theme Park-ifying,” “Corner Grabbing,” “Rebooting” and “Side Selling.” While “Corner Grabbing” employs real estate strategies, “Rebooting” is the process of shutting down and starting back up again, with a new vision and mission. “I firmly believe retailers will have to get creative to compete in the marketplace and get the most out of their real estate in 2015,” Weinberger says.
Westfield Group: Taking it to the Next Level
The Business of Fashion recently interviewed Kevin McKenzie, the global chief digital officer at Westfield Group, one of the world's largest owners of indoor malls, about the future of shopping centers, the company's plans for the new World Trade Center in New York City, and physical shopping experiences in a digital world. In the interview, McKenzie touched upon a variety of topics, including the importance of using technology as complimentary to the shopping experience consumers want and a series of pilot projects the company has undertaken in San Francisco.
Be Creative in Filling that Mall Space
There's no denying shopping trends are changing, but some mall operators are finding creative new ways to utilize the space that they've seen empty out over the years, resulting in new uses never-before envisioned for shopping malls. For example, according to a recent article in Bloomberg Businessweek, medical clinics are taking the place retailers formerly occupied in malls around the country, and it's a strategy that's been dubbed “the Blockbuster strategy” named for the former video rental mega-chain. “Demand is driven by patients who don't have a regular doctor or can't get a last-minute appointment with one. Instead of an overcrowded hospital emergency room, they visit a walk-in clinic.”
DMM Custom Reports for Non-Subscribers
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