Toronto Mall Launches Unique Pop-Up for September
Featuring a variety of brands in a 1,000 square foot purpose-built space, a Toronto mall has launched a unique pop-up for the month of September designed to generate buzz and test retail concepts for a number of participating brands. The Bayview Village shopping center partnered with The Toronto Star’s beauty and style publication, The Kit, to launch “The Haute Spot.” It’s large enough to feature such things as yoga, make-overs, photo shoots and more. It is furniture that can be moved around to suit the daily featured brands’ needs, shelving, storage drawers and clothing racks. As Retail Insider recently reported, while other area malls have also utilized pop-ups, Bayview Village’s is unique in that there are new presentations in the space each day, as opposed to rotating on a monthly basis. “Pop-ups create an enhanced level of excitement due to their temporary nature, and… the perception of scarcity may be a psychological trigger to get customers to visit frequently,” said Linda Farha, Founder and Chief Connector of pop-up go.
Global Research Firm Challenges Death of Traditional Retail
A global retail research and advisory firm has come out with a new report that has some outstanding numbers for the retail world. IHL Group recently published a report (and conducted a related webinar) that found a net increase in store openings of over 4,000 so far in 2017. That translates to 2.7 new stores for every one that has closed. This despite daily pronouncements, it seems, of the death of traditional retail. A recent article on the National Retail Federation’s website cited the Census Bureau’s latest retail sales figures showing a 4.2 percent year-on-year increase in July. “Every month this year has seen a steady increase in sales over the same period last year. What remains clear amidst all this noise is that the store is as relevant and important a part of the retail experience as it ever has been.”
Real Estate Group Touts Retail-friendly “Transit-Oriented Development”
The Society of Industrial and Office Realtors (SIOR) blogged recently about how “transit-oriented development” is the new big thing to combine retail, residential living, work and – let’s face it – life. It’s an alternative to the traffic jams and other outgrowths of suburban living that people have grown tired of. “Transit-oriented development is a reaction to the cookie-cutter suburban layout that was designed to squeeze as many families into neighborhoods as possible. Historically, developers didn’t give much consideration to movement outside of big metro areas like New York City, Chicago, and Washington, DC.” For retail, that means an interest in new ways for people to shop and live. For example, Miami’s Metrorail project “brought more than four miles of track through some of the city’s busiest neighborhoods. It also created a positive impact on a city as a whole by reducing the number of cars on the road and revitalizing neighboring communities.”
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