Breakout Trends Changing Shopping Centers by 2027
So we’re almost half-way through the year (only six months ‘til the holiday shopping season!) and RECon has given us some new ideas to think about. Phillips Edison & Company, a real estate firm specializing in grocery-anchored shopping centers, released its top five list of retail shopping center trends: Grocery Technology, Clicks to Bricks, Personal Fitness, Health Conscious Fast Casual Restaurants, and Food Halls. Chain Store Age said with these trends, “the shopping center as it exists today will look completely different 10 years from now.”
Macy’s Backstage Expands in Michigan to Attract Millennials
What began as a pilot concept in the fall of 2015 has slowly been growing in Macy’s stores around the country. The latest move is in Michigan, where the company will be opening its outlet stores, Macy’s Backstage, inside three of its department store locations in Michigan. Crain’s Detroit Business said the retail giant’s plan is to “appeal more to a millennial base that prefers low-price, resale and outlet shopping to traditional mall shopping.” The locations getting the Macy’s Backstage outlet shops are: Fairlane Town Center in Dearborn, Oakland Mall in Troy and Lakeside Mall in Sterling Heights.
Think Malls are Dead? Visit Rural America First
There’s a mall in Pueblo, Colorado, about 100 mile from Denver. It has seen a growth in foot traffic, kids like to relax there after their sporting events and it’s among the city’s main employers. When the newspaper (the Washington Post) owned by Amazon CEO Jeff Bezos decided to profile a growing shopping center, the Pueblo Mall, your humble e-newsletter editor took notice. “[T]he mall has barber shops, gyms, local stores and other things you can’t just buy on Amazon. Or you can go see what they have. You can touch it,” said David Mitroff of Piedmont Avenue Consulting. Words every shopping center should live by and remember. And for the city officials that have malls in their regions: “[W]hen you buy at J.C. Penney here, we actually get tax revenue off of that. But if you buy from Amazon, we don’t.”
Thanks for visiting us at ICSC’s RECon 2017
Thanks to everyone who visited us at RECon 2017, the ICSC’s convention for retail real estate professionals from around the world. We never get tired of talking about our RealSite™ Retail Trade Area products, created out of our strategic alliance with UberRetail’s mobile location data and the geospatial expertise and analysis of B.I. Spatial. If you weren’t able to make it to the booth for a personal demonstration, or if you are interested in finding out more about what’s in store for ShoppingCenters.com down the line, just contact us and we’ll take you on a virtual tour.