DMM Retail Industry e-News Issue #170
Taking a Peek into the Future: Holidays Sales 2019
The holiday sales period is right around the corner, and there are signs brick-and-mortar retail will have reason to smile in 2019. According to CNBC, analysts are bullish on Generation Z’s preference to shop in-store (that despite, or because of, their status as “the first generation to have grown up with cellphones and laptops”) rather than online. According to a recent study by the NPD Group, this is partially because they may not have easy access to credit cards, and “they see shopping as a form of entertainment. The mall isn’t just about shopping,” said Marshal Cohen, chief industry advisor of The NPD Group. In a more nostalgic return to retail, Toys “R” Us is opening in Paramus, New Jersey and Houston, Texas once again, though not nearly as the toy store behemoth it once was (at least, not yet). In its new format they are emphasizing playtime over miles and miles of product. Richard Barry, president and CEO of Toys “R” Us parent company, Tru Kids, told CNN Business, that, “We know that customers love shopping as a means of entertainment. That’s something built into the DNA of human beings.”
Taking a Peek (Farther) into the Future: 2020
Even though it’s 2019, and plutonium is still not available in every corner drugstore, we’ll have to rely on our cognitive abilities to determine what is in store for retail in 2020. Chain Store age recently posted an article with the top seven tech trends, according to Nielsen Connect, that will impact retail next year, including smart supply chains, corporate transparency, and consumer relationships (thanks to “pop-up shops with cashier-less payment to automated warehouses in urban centers”). Technology strategist Oliver Guy tells RetailWire.com that successful retailers will “build ecosystems by accelerating the use of new sales channels or working with value-adding partners that offer differentiation by supplementing products with relevant services.” Customer satisfaction expert Richard Shapiro of The Center For Client Retention predicts on CustomerThink.com that retail executives will “develop strategies to fight for new customers and innovate to keep the ones they have” by implementing ideas such as mobile technology supplementing in-store service, peer-to-peer selling, and collaborating to drive traffic.
Open-air Retail Center Replaces Old Hotel in Long Beach, CA
While the east coast was marking the beginning of a nearly two-decade project known as American Dream, the west coast was celebrating its own newest retail accomplishment, the more modest, 11-acre, two-story, open-air center, 2nd & PCH. The Long Beach Press-Telegram told readers the CenterCal Properties, LLC., project, which officially opened in late October, expects to have some 60 businesses in its 215,000-square-foot center once it’s fully leased. The center is anchored by Whole Foods and features a Shake Shack, Gorjana and Hawt Yoga, among other store and restaurants. “Contracts are being signed now to fill two large restaurant spaces. By next summer, we should have 100% occupancy,” said Samantha Lopez, General Manager, 2ND & PCH.
Visit DMM at the 2019 ICSC Deal Making Show – Booth #363
When you stop to think about it, it’s amazing how all those “1s” and “0s” combine to create data that can help your business. We’ve already done the hard part – gathering the data – and compiled it in a way that you can use it to make sense of your world. Come to the DMM booth (#363) during ICSC’s New York Deal Making, December 10-12, 2019, at the Jacob K. Javits Convention Center in New York City, and see how the data we have on 8,490+ major shopping centers and malls, over 318,100 tenant locations and more than 42,500 VIP contacts can work for you! It’s the data you need, when you need it. Check out ShoppingCenters.com first, then be sure to stop by our booth! This event has always been a great opportunity for owners, developers, retailers, brokers, lenders, municipalities, property asset managers and product and service providers to gather under one roof to make deals and form successful partnerships. See you there!
DMM e-News - Issue #170
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