Microsoft and the Future of Retail
Technology companies have changed the way we consume news, listen to music and watch television… it's only a matter of time before they bring sweeping changes to the world of retail. A glimpse of that future is available at the Microsoft Retail Experience Center (REC) in Redmond, Washington. Consultant Ed Collupy of the W. Capra Consulting Group took a tour recently of the REC. Writing for Convenience Store Decision, Collupy noted, “On the REC shelves, I saw product placements created from 3D planograms and a visual store walk tool… when I tapped the shelf label with my mobile phone, 'my' price appears, extending the personalization of on-line ordering into the in-store experience.” Have you implemented any “futuristic” technologies in your store? Or if you plan to, what would you want that technology to do? Let us know via Twitter!
Simon: Brick & Mortar Shopping is more Eco-friendly than Online
With Earth Day coming up later this month, it's a good idea to remind folks how green you are and how green we all can be. Simon Property Group, along with Deloitte Consulting, conducted a Life Cycle Analysis (LCA) and released their findings on the environmental impact of shopping, online and at brick-and-mortar retail stores. We won't get into all the formulaic parameters they used – if you are interested you can read their full report here – but suffice to say, Simon concluded that B&Ms were seven percent greener than their online counterparts (that is, if shoppers bought the same number of products). , the report found that, among other things, customers traveled to malls in groups, resulting in less fuel burned per product. The report also concluded that more packing material is used for delivering online orders, resulting in a 21% higher impact on the environment (your humble newsletter editor is sure he uses eco-friendly walking power when he shops at his local malls and less electricity as well – food for thought).
The Secret to Wynn-ing more in Vegas? Shopping!
High-end shopping is on the rise in Vegas, and developer Steve Wynn, chairman and CEO of Wynn Resorts, is cashing in on the trend. The Arizona Republic recently reported that a new retail component, Wynn Plaza, is being added to Wynn Las Vegas, to be completed in the fourth quarter of 2017. According to the article, “the two-story 75,000-square-foot mall will feature Parisian-inspired styling with a glass-roof atrium and a colored walkway leading in from the Strip. The retail mix will include high-end stores, restaurants, bars and 'interactive and experiential opportunities.'” Travel Weekly reported that Wynn Plaza's design will “emphasize light and airiness with atriums and a skylight.” Tenants have not yet been announced, but the total projected retail footprint at Wynn and Encore is expected to be 173,500 square feet, Travel Weekly reported.
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