DMM Retail Industry e-News Issue #175
NRF Big Show 2020: Getting Loyal Customers Easier in the Real World
The National Retail Federation’s Big Show last month was awash in optimism. RetailDive.com noted most of those positive vibes came from unique retailers such as Showfields, Area15 and Nordstrom, which recently opened two merchandise-free Local stores, which provide only services, in New York City. During her keynote address, Crate & Barrel CEO Neela Montgomery said the retailer believes customers may decide to buy after visiting a store, though the sale may not actually be made at that store. “Stores are not about the distribution of products anymore, they’re about the acquisition of customers. When it comes to customer acquisition, physical retail is more effective than a billboard,” she said.
$1.5 Billion Retail Center to Open Near Dallas
They say they do things bigger in Texas, and their shopping centers are no different. Several projects combining shopping and entertainment are in the works for the Lone Star State, most notably Grandscape, a $1.5 billion development about a half-hour drive north of Dallas opening this spring. “We’re trying to be very different. We wanted to create a space that’s different from other lifestyle centers in the area and to give people reasons to keep coming back,” said Jeff Lind, president of Grandscape, to the Dallas Morning News. Despite several other large projects nearby, developers hope to lure customers from Dallas to the new center, which will feature “lush landscaping, water venues, digital features and lots of places to sit in a pedestrian-friendly layout…and a 12-story apartment building…including dog parks and meeting rooms.”
At the Core of Retail: Apple as Shopping Mall Anchor
When we in the retail industry think of anchors, we often think of large, all-things-to-all-people department stores: Macy’s, Sears, you know the list. A new study from the Harvard Business School Working Knowledge Baker Library Bloomberg Center published a new paper late last month that explores the idea that the Apple Store could serve as a shopping center’s anchor. Apple stores are very niche-specific, technology (lifestyle) oriented, the opposite of traditional anchors. “This study examines the effect of technology stores—company-owned Apple and Microsoft retail stores—on mall configuration. We formulate a structural model that considers the endogenous location decisions of retail stores, taking into account both market characteristics and the spillover effects of co-location.” The study found that, “The presence of an Apple store, for example, attracts high-income consumers, promoting the entry of upscale stores and the exit of midscale and discount stores.” Download a PDF of the 41-page paper from Doug J. Chung, Associate Professor of Business Administration, here.
Vacant Anchor Space = Opportunity
Empty anchor spaces mean opportunities for someone with an idea and the desire. While here at the Directory of Major Malls / ShoppingCenters.com we generally focus on the major shopping centers and malls, we also provide data on the spaces that could become something new and different, or even similar, to what they were once before. A vacant anchor space leaves room for something new. We have OVER 4,290 vacant anchor spaces with 265 MILLION square feet of space available for new opportunities listed in our massive database. What would you do with that much space in prime retail locations? The sky’s the limit. Click on over to our website, login, and find your next big thing today!
DMM e-News - Issue #175
