DMM Retail Industry e-News Issue #195

Developer Keeps Long-run Positive Outlook… How Tech Can Help Consumers In-Store… Grabbing Gen Z’s Business Thru TikTok

cafeShopping Center Developer Keeps Long-run Positive Outlook

Lower numbers aren’t enough to dampen the spirits of at least one shopping center developer. Regency Centers Corp. of Jacksonville, Florida, reported lower third-quarter earnings recently but said trends are improving for its retail tenants. According to a recent piece in the Jacksonville Daily Record, the company’s encouraged by their retail tenants’ progress as they recover from COVID-19-related shutdowns. “[We’ve seen] increasing cash collections over the past few months. As tenants are able to reopen, even with capacity restrictions, they gain the visibility they need to start paying their rent or to enter into a deferral plan that both they and we can feel confident in,” said CEO Lisa Palmer. Businesses considered “essential,” such as grocers, drugstores and medical services, have been most successful. The company has also seen new leasing activity in various categories, including banks, beauty, and restaurants.

satisfactionThe State of Retail: How Tech Can Help Consumers In-Store

Even before COVID, stores were looking towards technology to help make consumers’ shopping experiences in-store better and more productive than before. Competition with online shopping, while it can’t completely re-make the in-store experience, does provide shoppers with a level of satisfaction that makes them appealing. Senior Content Analyst at SoftwareAdvice.com Agnes Teh Stubbs recently did a survey among retailers and their customers to see what they’re doing right or wrong, and how technology can possibly help. She covered such areas as in-store safety and shopping confidence, and the speed at which retailers are adopting “future retail strategies.” “Across the board, retailers have increased their efforts in establishing and expanding their e-commerce presence and delivery to improve their online shopping experience and become more efficient with sales,” Stubbs writes. Click the link above to see the breakdown of the results of her survey.

tiktokDo you TikTok? If you want Gen Z’s Business, You Might Have To

Social media…are you on Twitter? Facebook? Insta? Snap? For the latter two, we don’t even say their full names anymore. They’re more well-known by their shortened nicknames (time is money, and that’s lit). There are many other platforms gaining in popularity or hovering in just enough obscurity to keep its fan bases comfortable (you know, before Mom and Dad, or worse, Grandma and Grandpa, from joining too). TikTok has fast become pretty popular for a number of reasons (its popularity escapes the understanding of your humble e-newsletter editor, much as his teen and 20-something kids have tried to help. The folks at The Big Easy magazine suggest quarantining has yielded some interesting style choices, including “shabby chic.” How do they determine this? TikTok. “As apps such as TikTok blow up, we start to see the clothing trends of the newest generation of trendsetters. Finding ways retail stores can attract the Gen Z demographic will boost sales quickly. The Gen Z crowd strives for comfort within their wardrobe above all else. This group loves to dance; therefore, their clothes need to move too.”

Spotlight Listing
Spotlight Listing
Details

Hay Creek Shops

1451 E Lasalle Dr.
Bismarck, ND 58503
Website

Stats

Gross Leaseable Retail Area
300,000 sq. ft.

Year Opened
2014

Owner/Developer
Aspen Group LLP

Retailers

Retailers Include
Bed Bath & Beyond, DICK'S Sporting Goods, Michaels, Ross Dress For Less, Famous Footwear, Maurices, Erbert and Gerbert's Sandwich Shop, ULTA Beauty, Kirkland's, Sleep Number/Select Comfort, AT&T, Aspen Dental

Summary

Summary
Hay Creek Shops is located in the affluent and rapidly growing North Bismarck area, and features several first to-market retailers that made their entrance into one of the hottest markets in the country. Hay Creek Shops serves a primary market population of 117,523 with an average household income of $93,157.


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metamorphosis of retail