COVID-19 Dies Down, Open-Air Shopping Centers to Thrive in 2024
The pandemic ushered in a new way of shopping in-person – social distancing, hand-sanitizing, curb-side deliveries – plus many other additions to the experience came to the forefront. One of the resurgent trends was also the open-air shopping center. As reported in a recent article on SourcingJournal.com (and also published here by the folks at Yahoo.com), Alanna Loeffler, managing director at Cushman & Wakefield, was participating in a webinar panel discussion on “Shopping Center Myths and Facts,” and noted that open-air centers were likely to fare best over the holiday season. She added that retailers including Foot Locker, Skechers and Gap are “moving towards open air shopping centers and taking smaller scale footprints.”
And one more note on the pandemic, Susan Hagerty Bonsak, CEO at Placewise Group, recently penned an article for us on the trends that those who successfully navigated the perils of COVID should employ to thrive in 2024. Check out her article, “Navigating the Retail Renaissance: A look back at 2023 and food for thought for 2024.”
Forget the Whole “Ignorance is Bliss” Stuff, In-Store Retail Data is King!
We often hear the phrase “ignorance is bliss.” Those who subscribe to that concept have never tried to sell their quota of shoes or movie tickets or haircuts or French Fries in a given month. For us here at DMM (and we suspect for you, dear readers, too), data is bliss, our mantra, if you will. So noted Peter Waugh, Product Marketing Director for Dell Technologies in a recent article on CIO.com. He noted how in-store retailers tend to benefit from impulse purchases, more so than their online counterparts, and make much more money from them. As such, data can help swing the pendulum in in-store retailers’ favor. “A prime example is marketing personalization, which can increase sales by up to 20% and customer loyalty by up to 15%. The ability to perform real-time analytics and artificial intelligence (AI) on customer data at the point of creation enables hyper-personalized interactions at scale,” Waugh said.
Learn more about how to target the right consumers based on visitor traffic, segmentation, geography and many other critical trade area demographics for your shopping center and retail site selection with a subscription to ShoppingCenters.com today!
Shopping Centers Case Study: CT Website Ranks Top Two Malls in State
As a life-long resident of New York State, your humble e-newsletter editor has had more than a few occasions to visit the lovely nutmeg State of Connecticut just next door. Now that close relatives live there, and they have the cutest cats, yours truly is there more often than ever before. At some point, a stop at a local mall or shopping center will be necessary, it stands to reason. Staff writer Alexander Soule at CTinsider.com provided a guide recently to the busiest malls in the state, noting that “two malls are cementing their status as [the] state’s retail meccas.” They were Danbury Fair and Westfarms. Over in West Hartford, Chris Conway, the CEO of the West Hartford Chamber of Commerce, added that based on his eyeball test, shoppers were “out in force for the holidays.” Hallelujah! Even better news, you don’t have to walk around every single mall in Connecticut, or any other state for that matter – DMM has it right there for you at your fingertips! Just head over to ShoppingCenters.com for access to our database of comprehensive property details, ownership, tenant lists, trade area analysis, and more!
Happy New Year! Resolve to Make Data a Constant Theme for 2024 (it’s the Easiest Resolution to Keep All Year Long)
It’s a new year and ShoppingCenters.com is pretty new, too. Late last year we created a host of new features and new data was recently added to the DMM dataset last quarter. For example, with the integration of mobile visitor traffic and trade area analysis, it’s now easier than ever to identify the Top 5 Cross-Shopped Centers, competing centers, analyze visitor traffic metrics, evaluate Trade Area demographics, and discover just how far the average shopper will travel to visit a center.
We also urge you to (if you haven’t already) check out our NEW Anchor Store status and vacancy metrics and review the PRIZM segmentation and Claritas trade area demographics. Why, you ask? If you have the need to find vacant or shuttered anchor stores, or perhaps you have one at your property, we can help you figure out the most appropriate uses for them. Apartments? Mixed-use? Logistics centers? Another mall?” The possibilities are endless!
Plus, you’ll love how easy it is to use and how budget-friendly it is! Request a FREE trial to check it out yourself.
Happy New Year from the DMM Family to Yours!
Spotlight on a Top 10 Growth Market Center:
The Shoppes at Susquehanna Marketplace
According to the trade area analysis available on ShoppingCenters.com:
- Primary Market Population: 443,799
- Average Household Income: $101,774
- Number of Households: 180,265
- Average Shopper Age: 41.2
- Projected Five-year Income Growth: 12.24%
Two of the Top 5 PRIZM® consumer segments at The Shoppes at Susquehanna Marketplace include the Bright Lights, Li’l City demographic: they represent an Upper Midscale Younger Family Mix (age 25-44), they like to listen to Active Rock music and eat at Chuck E Cheese; and the Cruisin’ to Retirement demographic: they represent a group that’s Upscale Older Mostly w/o Kids (age 55+), own an Audi, and like to cruise with Royal Caribbean. Harrisburg, it should be noted, was recently named the number one place to retire (according to U.S. News & World Report).
The Shoppes at Susquehanna Marketplace
2547 Brindle Dr.
Harrisburg, PA 17110
Lexington Realty International
Gross Leaseable Retail Area
110,384 sq. ft.
Chico's, Talbots, Eddie Bauer, Romano's Macaroni Grill, Starbucks, Norman's Hallmark, Sephora, AT&T Wireless, LensCrafters, Pure Barre
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