DMM Retail Industry e-News Issue #173
Last Year’s Retail Trends Clearly Seen to Impact 2020
If there is going to be a clear view of any year, one would think it would be 2020 (see what we did there?), right? With apologies to the great Barbara Walters, 2019 trends paved the way for what the folks at Chain Store Age think will happen at retail this year. At the top of the list is what they call “The Rise of Skywalker,” uh, rather, “The Rise of the Mega Project” such as New Jersey’s 3 million square-foot retail and entertainment, American Dream, and others. They also suggest food services will get even more gimmicky, and so far, the internet can’t spit food directly from the store through your modem and into your lap. “After the roaring success of chicken wars, it seems the early bird gets the worm. McDonald’s just threw down the gauntlet (or fork) announcing the newest food battle, which we term ‘Breakfast Wars.’ Food and Wine recently reported that ‘McDonald’s will add two chicken sandwiches to the breakfast menu in January 2020.’ Now we hungrily await the other fast-food rivals’ edible response.”
Retail Spaces in Dallas and Atlanta Pivot to Provide Additional Uses
Retail and malls are changing. While some shopping centers are exhibiting similar retail characteristics that they had 40 and 50 years ago with some upgrades and the addition of entertainment, others are getting more radical makeovers (and hi-tech smartphone apps are replacing old-timey cash registers). In the Dallas area, The Dallas Morning News recently reported that University of Texas Southwestern and Parkland Hospital are taking over vacant retail space at the former Red Bird Mall. “UT Southwestern will open offices in a 150,000-square-foot Sears store that closed earlier this year. About 43,000 square feet of a Dillard’s store that closed in 2008 is already being retrofitted for Parkland.” Similar changes are taking place in Atlanta where Emory Healthcare plans to take over 220,000 square feet of an old Sears location at Northlake Mall and convert that into office space for administrative staff. The mall is still anchored by JCPenney and Macy’s.
The Year: 2120. How Would We Explain Shopping to Someone from 2020?
A recent article from our friends in Canada posited a similar question: How would you explain shopping to someone from the 1920s? It certainly is different, as it is bound to be 100 years from now. Heck, real-world shopping right now looks very different even from what we experienced on a regular basis in the early 21st century. For example: Sobeys, a large food retailer in Canada, has added a convenient “Smart Cart” that automatically scans barcodes letting shoppers skip the checkout line. John Torella is a senior adviser with J.C. Williams Group, a retail consulting firm. He told CTVNews.ca that Canadian consumers are looking for more out of their retail experiences than just getting things. “I think they want an experience more than just a product of the service. They’re really looking to take the friction out of the whole shopping experience,” he said.
Looking Ahead to 2020 – Good to See You All at ISC’s DM Show ‘19
Thanks again to all who came to the DMM / ShoppingCenters.com booth at ICSC’s New York Deal Making at the Jacob K. Javits Convention Center in New York City last month. As we open 2020, we are looking forward to sharing interesting industry stories with you and answering any questions you may have about all the data we have on 8,490+ major shopping centers and malls, over 318,100 tenant locations and more than 42,500 VIP contacts! It’s the data you need, when you need it. Ideas or suggestions always welcome — tell us via Twitter or on our “Contact” page.
DMM e-News - Issue #173
