DMM Retail Industry e-News Issue #163
The “Mall” Redefined – Seattle, WA & East Rutherford, NJ
The word “mall’ conjures up particular images to many: specialty retailers, general merchandise anchors, a movie theater, and a food court. The mall of 20-teens has revised the model, and projects in Seattle and East Rutherford, NJ, are doing it to the extreme. The fate of the former Xanadu project, now known as American Dream, slated to open in late October, is well-documented. On the west coast of the United States, Seattle’s Northgate Mall, the first one in America, is undergoing a facelift that would add residential units, office space, and an NHL practice facility right next door. “Northgate’s owner, Simon Property Group, filed plans last summer to tear down 60% of the mall to make room for 1,200 new housing units, four office towers, a 200-room hotel, an indoor fitness center with rooftop pool and a ‘Central Park’ that would unite the complex around more than 100,000 square feet of green space.” Not your grandparents’ mall.
Using Data to Stay on Top of $1.65 Trillion Global Apparel Market…
The global apparel market is going to be huge. Statista Research says by 2020, the global apparel market will be around $1.65 trillion. Retail advisor ShopperTrak, has a new e-book filled with data-driven insight that can help you future-proof your stores and make physical space more profitable (ShopperTrak uses DMM data is one of the sources used in its analysis). “It’s big, fast-paced and fiercely competitive. Only the brands that fully understand their customers, and grasp every single sales opportunity, will flourish.” To download the e-book, click here.
…But if Clothes aren’t Your Thing, There’s Always “Star Wars”
While the majority of shopping is still done in the real world and not online, there are some things your humble e-newsletter editor, as a middle-age male, would much rather do than go clothes shopping. One of those things is (almost) anything “Star Wars.” While I submit my interest is limited to the movies (and not the extended canon that I am tired of hearing about and being forced to care about) I was intrigued by this article on CNBC.com recently. “Mall owners realize they need to bring in a new wave of entertainment venues to keep luring people in. So now escape rooms, places where you can pay to throw an axe at a wall and virtual reality experiences that make you feel like you’re on the set of a ‘Star Wars’ movie are popping up at malls across the country.” OK, so I was a little taken aback by the prospect of handing groups of teens axes to fling around, but dang it, a “Star Wars” experience is a “Star Wars” experience! Question: which of these two activities is more likely to get you to a mall: a “Star Wars” experience (or maybe something else unique), or shopping for clothes (ugh)? Hit us up on Twitter.
ShoppingCenters.com’s “Retail Boundaries”
If you haven’t had the chance to check out our “Retail Boundaries” for analyzing property boundaries, now’s the time! DMM’s “Retail Boundaries” were developed in partnership with the geospatial expertise of B.I. Spatial, and they help visually identify geographical areas around the DMM major shopping centers in which retail consumer activity is taking place. When integrated into analytic platforms and used in conjunction with third-party data such as demographics, consumer profiles and mobile trace data, you can identify patronage patterns, separate residential locations, create polygon trade areas representing actual visitors to a shopping center and analyze top consumer segmentation profiles. For more information, click here.
DMM e-News - Issue #163
