DMM Retail Industry e-News Issue #165
It’s a “Retail Shift” not a “Retail (A-Word)”
Retail is undergoing changes, there’s no doubt about that. While larger department stores are losing steam, smaller, boutique-type shops are taking their place. A new report from the IHL Group, is a global research and advisory firm for the retail and hospitality industries, found that for every retailer that’s closing stores, 5.2 are opening new locations. In their free report, “Retail’s Renaissance —True Story of Store Openings/Closings,” Lee Holman, Lead Retail Analyst, and Greg Buzek, President, noted that, “chains closing stores peaked in 2018 at 612 chains. This dropped to 206 chains in 2019 [and] retailers have announced 2,965 more openings for 2019 than closings.” You can download a free copy of their report, here.
Target, on Hunt for Good Food Growth, Aims High with New Grocery Brand
The closest Target store to your humble e-newsletter editor is at the local mall. On more than one occasion, he has bowled, eaten, and bought a new short or pair of jeans, and then ended the day with a grocery run in Target. Target’s about to make some changes in its food section. CNBC recently reported the company is introducing a new brand, Good & Gather, that’ll cover more than 2,000 items including organic snacks and frozen meals. CNBC reported nearly 75% of Target in-store shoppers add at least one food item to their baskets. “We’ve been hard at work [on this] for the last couple years. Food and beverage play such an important role for Target’s business … for the Target experience. One of our biggest strengths is the fact that we are a one-stop shop for our guests,” said Stephanie Lundquist, head of food and beverage at Target.
Mount Pleasant Retail Expanding Pleasantly
South Carolina town of Mount Pleasant is experiencing a retail growth spurt. Various projects are either done, near-done or in the planning stages. A former K-mart anchored shopping center is getting a re-design. Hotels and restaurants are making their appearance. And a new Walmart-anchored shopping center is coming soon. It’s inspiring, for us retail junkies. The Post and Courier reported recently the Charleston area, less than ten miles away, is also growing, in unique ways. “A former longtime Charleston home furnishing store is being transformed into a new business. Mitchell Hill, which operates a gallery at 438 King St., is creating a design center on two floors at 414 King in the former Chase Furniture building. The 12,000-square-foot space will serve as a multi-line showroom while continuing to act as an art gallery.”
DMM is on YouTube!
We’ve all done it. Watched classic mall movie scenes on YouTube to kill some downtime. Maybe you’re into “Mean Girls.” Or perhaps Marty McFly’s first time travel experience outside the Twin Pines Mall in a DeLorean is more your speed. Then again, a classic like “The Blues Brothers” and its mall chase scene could never disappoint. You may have even found yourself watching this 1980s-era documentary on Long Island’s Roosevelt Field Mall. When you’re done hitting every decade a mall has been immortalized on film, hop on over DMM’s YouTube introductory video and get a quick introduction to our helpful subscriber tools (John Belushi, that time-traveling sports car, and the hot-pink outfits will be there for you later).
DMM e-News - Issue #165
