Retail’s “Silicon Valley” Could Soon Host “Mall of the Future”
With a name like “The Silicon Valley of Retail” how can you go wrong? Sure, tech has had its bubbles, but technology is what props up every industry, and Silicon Valley has a great reputation. We learned recently that Columbus, Ohio, has been dubbed that very moniker. Axios recently centered on Columbus as a potential location for the mall of the future, which they think will more likely resemble a town. They reported a Turkish developer is putting about $500 million behind a project that would have everything one would need from sun-up to sun-down, and beyond. “Yaromir Steiner…envisions a real town where you can rent an apartment, go to work, do your groceries, go out to eat and even go clubbing on Saturday night. Easton Town Center…is built around squares and main streets, instead of in a big concrete box.”
Facebook Friends Macy’s, to Open Pop-Ups in Several Stores
You’re all familiar with Facebook, right? Social media darling/enemy (depending on the content at the moment) that everyone uses to connect with and/or criticize family member, former school mates or girlfriends or boyfriends, bands, actors, retailers, and more. It’s not enough Facebook is on every PC and phone and tablet. Now they could be in your local mall. Business Insider reported recently the social media giant is opening popups in several Macy’s stores across the country to market and sell some of the smaller brands it carries on its site. “Facebook is following in the footsteps of Amazon, which has been growing its brick-and-mortar presence in the United States through its acquisition of Whole Foods, a partnership with Kohl’s, and new temporary and permanent stores. Roughly 100 different brands sold on Facebook and Instagram will be featured in nine Macy’s stores through February.”
Optimism Follows Robust Black Friday in New Jersey
If a small slice of New Jersey can be extrapolated for the nation, then it should good holiday season in the retail sector. The largest mall in New Jersey, in the shadow of what is still slated to someday be the largest mall in New Jersey, reportedly had a very good Black Friday this year. The North Jersey Record reported that the Westfield Garden State Plaza in Paramus estimated 100,000 shoppers for that day alone, and the numbers were looking much better than previous years. “We’re seeing a lot of shopping bags, and people are carrying multiple shopping bags from different retailers,” said Jay Daly, general manager of the mall. One local teen, not often considered the mall’s target audience as back in the heyday, said, “I just love shopping. It’s like everyone has the holiday spirit.”
Visit DMM at the 2018 ICSC Deal Making Show – Booth #363
Make sure to stop by the DMM booth (#363) during ICSC’s New York Deal Making, December 4 – 6, 2018, at the Jacob K. Javits Convention Center in New York City. At the show, you can learn about our new Retail Boundary Data, “Cross-Shopping” report services, online access and custom databases. Hear how we’ve become the industry’s most comprehensive and reliable source for major shopping center and retail data. Our reference tools can help you identify opportunities and make decisions for your business. We’re also offering a show discount for online access to ShoppingCenters.com, so make sure you stop by! This event is a great opportunity for owners, developers, retailers, brokers, lenders, municipalities, property asset managers and product and service providers to gather under one roof to exhibit, make deals and form successful business partnerships. See you there!
DMM e-News - Issue #147
