Bitcoin? Ethereum? Crypto-whazzit? Can I Buy Shoes, Lunch or Fries with That?
Cash. Credit Cards. Cell phone payment apps. Crypto-currencies? For some, even the definition is hard to digest. Retail is being pounded lately with many payment options, the newest kid on the block(chain) is cryptocurrency. You may have heard of some of them, including Bitcoin, Ethereum, or Cardano-ADA. They’re digital doo-hickies that are all the rage among some in the investment community, but is it something retailers should be concerned about? A recent blog post on the National Retail Federation’s website examines cryptocurrency and its potential role in retail. It jumps wallet-first into the various questions surrounding the latest digital shiny thing to attract investors’ attention, including “What is cryptocurrency?”, “What does it mean for a retailer to accept cryptocurrency?”, and “What does the future look like for retailers and cryptocurrency?” Big names are dipping their (cryp)toes into the crypto-pool, including Starbucks and the NBA’s Dallas Mavericks, though Tesla once accepted Bitcoin to purchase its cars, the company changed course just two months later. “All retailers are looking into it. This is coming, and we are aware of it, and I think retailers have seen the future, and we are ready to adjust. And it could be a really good thing. But it has to be a value-added service for retailers rather than a possible loss,” said Leon Buck, the NRF’s VP of banking and financial services.
Over in Connecticut, Down Aisle Three…Apartment 3G?
The folks behind the Connecticut Post mall in Milford, CT, while not exactly outlining a road map just yet, are hinting residential could be in the mix for redevelopment there. That’s where a 179,000-square-foot Sears closed in 2019, and a recent article on Hearst Connecticut Media’s CTinsider.com noted some non-retail tenants could take over vacant areas where big boxes once stood. “We have proven success in other markets redeveloping spaces like this into mixed-use projects that have included residential, entertainment, dining, health-and-wellness and park-plaza space among other diverse offerings, and we envision doing something similar with the former Sears space,” said Jon Meshel, vice president of development, Centennial Real Estate Co.
Ear Piercing Trends High at Retail – Let’s See You Do That, TikTok
In the late 1980’s, your humble e-newsletter editor’s sister came home with one of her ears double-pierced. If she can do that, why can’t I get one of my ears pierced, yours truly asked his father. His response? “You want your ear pierced? Get your ear pierced!” The gauntlet having been thrown down, your humble e-newsletter editor went to the Crossgates Mall in Albany, NY, and got it done. While the evidence of that day has long since disappeared, the procedure is making a comeback. According to a recent article on RetailDive.com, individual retailers, including Claire’s, Target, CVS and Five Below. Many of these retailers are mall-based, others located in strip malls, but they are offering a service that goes beyond delivery of a product purchased online. It’s bringing people into their physical stores. “This service helps us connect and celebrate a major milestone with often younger guests, creating lasting affinity for our brand,” said Target Chief Growth Officer, Christina Hennington.
Spotlight on a Top 10 Growth Market Center:
Tanger Outlet Center
Tanger Outlet Center
300 Tanger Blvd.
Branson, MO 65616
Tanger Factory Outlet Centers, Inc.
Gross Leaseable Retail Area
329,861 sq. ft.
PUMA Outlet, Aerie Outlet, kate spade new york, Casual Male XL, Girlie Girl Originals, Oakley Vault, The Fudgery, Helzberg Diamonds, Book Warehouse, Bath & Body Works, As Seen On TV, Perfumania, Sperry Top-Sider
Located just three miles from the heart of Branson, MO, Tanger Outlet Center of Branson is an M-shaped, open-air, Value-Retail/Outlet Center near the Branson Theatre District. According to trade area analysis available on ShoppingCenters.com:
- Mobile Data Metric – Current Rolling 12 Month Count for Visitor Traffic: 270,346
- Primary Market Population: 451,784
- Average Household Income : $71,839
- Number of Households: 185,209
Are you a retailer looking to grow your locations on the West Coast?
Did you know you can access deep details for 1,669 major open-air shopping centers on the West Coast via access on ShoppingCenters.com? Find out who owns the property. Whom to call for leasing space. Who the co-tenants are and how many consumers visit the center annually. Take a look at the trade area demographics and a trade area map. This, plus deeper market area, and more. You can get exclusive access at ShoppingCenters.com.