Read the July 2016
DMM e-News – Issue #90
Mom-and-Pops Enter Local Malls Alongside National Chains
Shopping centers tend to be clusters, of larger national chains that have deep pockets and are supported by major advertising and marketing campaigns. That’s starting to change, according to a recent piece on CNBC.com. The article focuses on an initiative by Kimco, the largest publicly-traded owner and operator of open-air shopping centers in North America. The initiative offers small businesses one year of free rent and reduced property charges. It started in California four years ago and has since expanded to 19 states. “Consumers are responding to the unique merchandise, easy-to-shop formats and personal service that come with mom-and-pop retail stores,” the article states.
Brick-and-Mortar Retail in Detroit Sees Growth
Andy Farbman, CEO of the Farbman Group a commercial management and brokerage firm, recently argued that brick-and-mortar retail is having more of an impact on e-commerce?not the other way around, as many often lament, at least in southern Michigan, in particular Detroit. In an article posted on Real Estate Business Online, Farbman noted that a brick-and-mortar presence by online retailers gives consumers something tangible to experience. Creativity by online retailers and traditional retail is imperative to keep moving forward, Farbman said. “Converting to alternative uses like light industrial or office is one possibility and Michigan municipalities will need to be flexible and creative in order to modify zoning, evolve along with new marketplace drivers, and accommodate changing retail and mixed-use demands.”
Online Jewelry Store Tries Unique ‘Webroom’ in New York
Blue Nile, the online retailer of diamonds and fine jewelry, recently opened what they call a brick-and-mortar ‘webroom’ at a mall on the outskirts of New York City. What’s described in the Westchester County Business Journal as a ‘hybrid of online and in-store shopping’ the store lets customers browse more than 400 styles of jewelry in-person at The Westchester in White Plains, NY, without the pressure of a sales person involved in the buying process. Another difference with this online-store-turned-real-world-store is that at Blue Nile, “all orders will still need to be placed online, which can be done in the store. Purchases will then be shipped to a customer?s home or to the store for pick-up.” .
DMM IS ON YOUTUBE!
School is right around the corner and learning about how to use DMM’s exclusive online database couldn’t be easier. As you cling to the final weeks and days of summer, you could do it from the beach, on a hike, or just about anywhere! Just head on over to YouTube where you?ll find our introductory video that explains the helpful tools that DMM subscribers can take advantage of. Click here to view the video on YouTube.