DMM Retail Industry e-News Issue #225

Younger Consumers Driving ‘Shoptainment’ Trend… Modernization Plan to Orlando Community Center… Indication Shoppers Returning to Pre-Pandemic Levels

younger shopperYounger Consumers, Rihanna, Driving ‘Shoptainment’ Trend

The young ‘uns are often perceived as being hooked on their cell phones, head pointed downward, rarely leaving the couch or home office workspace. But it is they who are driving the “shoptainment” trend – that’s the combination of shopping and entertainment that malls are seemingly all ascribing to these days in the post-pandemic world. At least that’s according to a recent article on Refinery29.com, a “next-gen media and entertainment platform focused on women and underrepresented voices” (not exactly the NY Times or the Wall Street Journal, but perhaps that’s precisely the point). Anyway, a recent article there suggests that, according to Tamara Szames, an industry advisor with NPD Group, our social lives have for so long been restricted and we yearn for nostalgic experiences. “The ‘shoptainment’ — the entertainment of shopping — is coming back, especially for that younger consumer. We also can’t lose touch that we’re human,” Szames added. As article writer, Director of Editorial Operations Carli Whitwell, noted, “bored consumers [are] ready to spend.” Remember, you can pinpoint the centers that reflect your target consumers by using your ShoppingCenters.com subscription to fire up our enhanced demographics machine to determine household income, consumer segments, and more!

winter villageCase Study: $20M Brings Post-Pandemic Modernization Plan to Orlando Community Center

Generally speaking, winters in Orlando, FL, are not the same as winters in the NY Metro area, where your humble e-newsletter editor resides. So, when a news story of a mall called “Winter Park” pops up, naturally the curiosity is aroused. Upon realizing said mall is practically in the southern-most portion of the United States, a slight pause is given. Upon further research, it turns out Winter Park Village, an open-air community center, was one of the first in its area to offer indoor air conditioning. According to The Orlando Weekly, the mall that was revolutionary when it was first developed in the 1960s is about to again become part of the new wave of mall trends. Partially thanks to the pandemic, Casto Southeast Realty Services President Brett Hutchens told The Orlando Weekly that Winter Park Village is about to undergo some major changes designed to encourage visitors to spend more time there. “There will be a multimillion-dollar redevelopment of the interior lobby and exterior facade of the theater. It will be a high energy and exciting pavilion,” Hutchens said. The estimated $20 million remodeling plan will also result in office space being converted to residential space. Don’t forget, using your ShoppingCenters.com subscription, you can drill down into the data and learn more about Orlando’s (or any other city’s) retail shopping center destinations and trade demographics.

More Food…Another Indication Shoppers are Returning to Pre-Pandemic Levels

Tanger OutletOne of the biggest names in the retail world is showing numbers that are exceeding levels not seen since before the pandemic. PYMNTS.com recently reported that Tanger Factory Outlet Centers say that occupancy of their stores was at 95.3% on December 31st, 2021, up from 92.2% at the end of 2020. Average tenant sales were up 15% in 2021 compared to 2019 based on same store sales. In a press release, Tanger President and CEO Stephen Yalof noted, “We are pleased to report another quarter of strong results, driven by positive traffic and tenant sales and accelerating leasing trends at our open-air centers.” According to PYMNTS.com, the company has increased its food offerings with new sit-down, quick-serve and grab-and-go concepts, and added more entertainment stores, kiosks and other amenities designed to encourage more frequent and longer shopping trips.

Spotlight Listing
Spotlight Listing
Details

Lakeport Commons

5101 Sergeant Rd.
Sioux City, IA 51106
Website

Stats

Gross Leaseable Retail Area
405,145 sq. ft.

Year Opened
2006

Owner/Developer
The R.H. Johnson Company

Retailers

Retailers Include
Best Buy, Kohl's, Michaels, Old Navy, PetSmart, Staples, Lane Bryant, Men's Wearhouse, Gap Factory Store, Chipotle Mexican Grill, Peachwave Frozen Yogurt, Gundersen's Jewelry Store, Sport Clips, Party City

Summary

Summary
Lakeport Commons has the perfect blend of retailers for convenient, one-stop shopping. Lakeport Commons serves a primary market population of 140,654 with an average household income of $87,022.


Major News Outlets Use Our Data – You Should Too!

Online Access ToolDMM/ShoppingCenters.com data is used by major news outlets like NPR, The Wall Street Journal and more. They know that for a more concise understanding about the people actually going to shopping centers and malls, or for insight on whether those people can be your potential customers, our data on demographics and segmentation is based upon actual visitor traffic, and that makes all the difference. Imagine you can pull up this type of insight easily and immediately after running a quick search. Imagine no longer. ShoppingCenters.com’s new Mobile Analytic tier gives you this valuable insight and provides you with:

  • Visitor Traffic Metrics
  • Expanded Demographics for population, ethnicity, income, housing, education, age and more
  • PRIZM® Segmentation Profiles

Take a peek at all the options available to you »


Signup To Have DMM e-News Sent Straight To Your Inbox »

Free Trial