CEO of Simon says Malls aren't Dead
Surely we've all seen our share of “Malls are Dead” and “The Internet is Killing the Malls” articles over the years, but that's exactly why Simon's CEO is so optimistic. He's heard the doom and gloom so often and yet, here we are, still shopping at malls… along with the mobile and internet shopping that's done. In an exclusive Q&A with TheStreet.com, Simon Property Group's CEO, David Simon, talks about “the future of the mall and why specialty retailers are currently in love with opening new outlet stores.” In the article, Simon touches upon various topics, including post-recession closures, mall remodeling efforts and concerns about Sears and J.C. Penney.
Social Networks Help Retailers Connect with Consumers in a Meaningful Way
Consulting services provider McGladrey LLP has advice for retailers looking to boost their bottom lines as the year comes to a close. Its August Consumer Products Commentary reports a mixed bag, but does offer some advice as retailers move forward to the end of the year. Jeffrey Edelman, director of Retail and Consumer Products, suggests “differentiation and customer targeting” are critical for retailers, who should also use social networks “to connect with consumers in a targeted, meaningful way. As consumers perform more online research in advance of shopping, smart retailers can connect with their customers in a way that influences their purchasing decisions.”
By the Time you Read this it will Already be Autumn, but…
… retailers are already starting to look a lot like Christmas. At least, that's according to Georgea Kovanis, reporter for the Detroit Free Press. Kovanis writes that retailers are going to be featuring bigger and better promotions than last year, a move that one analyst says is right in line with consumers' strategy of saving money. “The consumer today is just fanatical about saving money,” Britt Beemer, the chairman of consumer behavior and retail strategy firm America's Research Group, told Kovanis. “I think you're going to see more retailers jump into the sale strategy. I think they're going to be more aggressive and you may see bigger discounts earlier.”
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Spotlight Listing: The Outlet Collection | Seattle, Auburn, WA