DMM Retail Industry e-News Issue #155
Yup, Data’s Important to Retail
Another baseball season just started, and Major League Baseball isn’t the only professional sports league that has come to rely on data to change the way the game is played. If Brad Pitt and Jonah Hill have taught us nothing else, it’s that numbers are important to success. Of course, we’re big fans of data here at DMM. In a recent column for MyTotalRetail.com, Daniel Raskin of Kinetica, a high-performance analytics database, made the case for data in retail. Just as data has become a major part of professional sports, “decisions around data must be woven into the very fabric of the customer journey and back-end operations.”
Can Large-Box Retail Become New Town Centers? We’re Seeing it Already
Walmart Town Centers, Hudson Yards, all recent examples of the new approach to retail – having more of a town center than a big box with a parking lot. Can that work in other situations? Bryan Gildenberg of Kantar Consulting thinks that’s a good way to go. In a recent column on ChainStoreAge.com, Gildenberg noted that, perhaps ironically, “Much of the inspiration for this comes from tech companies like Facebook and Google, who have developed physical campuses where people live, work, play shop, relax, worship and learn in designed for purpose ‘curated communities.’” It’s a radical transformation, no doubt, but he adds, “In order to succeed, these retailers will need to properly balance the needs of people, products and profits.”
After 16 Years, Will the American Dream Come True?
The ginormous American Dream mall, formerly known as Xanadu, has been growing in DMM’s backyard nearly since the turn of the century. It’s been given another opening date: “late summer 2019.” That’s according to developer Triple-5, which also owns the Mall of America. The complex, “around 3 million square feet in size,” will include a water park and an indoor ski slope, on “more than 18 acres.” According to NJ.com, it’ll be “55 percent entertainment and 45 percent retail. It will have more than 450 stores and restaurants…and…an NHL-regulation-sized ice rink.” It also now has an Instagram account, but mall officials wouldn’t confirm it’s official.
DMM Tech-Tip: Co-tenancy
Co-tenancy on your mind? Co-tenancy (co•ten•an•cy, koh-ten-uhn-see) is a noun, defined as “two or more tenants sharing property.” It’s like being back in college and having a roommate. The ShoppingCenters.com Group creation tool can lend a hand in locating co-tenancy partners that might work in your situation. It’s easy! Check it out.
DMM e-News - Issue #155
