The Best Retail Landlords Realize Importance of Bricks and Clicks
By Brad Thomas for TheStreet.com
NEW YORK (TheStreet)
— Even before the opening bell on Black Friday, investors had a hint,
in the form of long lines outside retailers nationwide, that holiday
sales would be strong.
The holiday retail sales season is a critical period in the yearly
economic cycle: It’s when many retailers push into the black and seal
their annual profits. This year, it’s shaping up to be another record
season. Thanksgiving hours and shopping in both stores and online
spurred an estimated 12.8% increase in U.S. retailers’ sales over the
four-day holiday weekend, an industry trade group said on Sunday.
According to a survey from the National Retail Federation, an
estimated 139.4 million adults visited U.S. stores and Web sites from
Thanksgiving through Sunday, up from 131 million last year. Total
spending for the weekend rose to $59.1 billion from $52.4 billion last
year. The average holiday shopper spent $423 this weekend, the National Retail Federation said. That is up from $398 last year.
So Are Shoppers Using Bricks or Clicks?
Some of the best retailers touch their customers seamlessly, whether
through e-commerce, catalogs, direct mail or brick and mortar.
Technology has improved the customer experience at all levels: the front
of the house, the logistics chain, its efficiency and pricing and customer knowledge and service. Social media will continue to
enhance the connectivity of the customer and retailer, but in this
omnichannel world the brand is more important than ever.
A bricks-and-mortar strategy enables retailers to holistically
present and establish their brands, create an experience that inspires
customers and allows them to socialize and interact with others.
Kimco Realty (KIM_), the largest shopping center landlord in the nation, is landlord to many “best in class” retailers including Home Depot (HD_), Wal-Mart (WMT_), Kohl’s (KSS_) and TJ Maxx (TJX_). Dave Henry, Kimco’s CEO and chairman, explains why “bricks and mortar” is a critical channel for retailers: …Read the complete article