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    The Week In News, But Shorter


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    The Week In News, But Shorter
    February 26 – March 3, 2024



    While ChatGPT gets all the publicity, is there anything sexier than Proptech AI (don’t answer that)?   The narrative around AI tends to lean towards the Hollywood story of AI-enabled robots taking over the world. But for property owners, we are seeing more tangible examples emerge that aren’t dreamt up by a screenwriter, but are helping create better efficiencies by automating the mundane and monotonous.  Propmodo does a nice recap of some of the areas where automation is streamlining building operations including maintenance, rent collection, and tenant communications.

    Marc Lore is at it again, trying to revive the ghost kitchen model by launching a centralized, multi-concept kitchen inside of Walmart.   NextRivet and its Napa restaurant clients actually pitched Albertsons on this very concept a few years ago, but apparently, Marc had a little more financial backing and street cred to make it happen…who knew?

    And if Ikea wasn’t already like a mall unto itself, it’s now buying distressed properties and re-developing them with smaller Ikea stores as the anchor tenant, surrounded by Ikea-owned amenities such as co-working, food halls, and even children’s play areas (assembly not required).

    For a sneak preview each week, check us out on LinkedIn where you can find some of this content before it hits your inbox.

    Digital Meets Physical

    Google’s Harmony Murphy says AI can cater for customers and power growth [Retail Innovation Hub“Retailers need to use AI more,” said Harmony Murphy, Retail Head of Advertising at Google UK&I, in an exclusive chat with RTIH which discussed the transformative potential of artificial intelligence in the retail industry.

    Retailtainment is Reshaping OOH Advertising [Retail TouchpointsOut-of-home (OOH) advertising has played an integral role in the media mix for decades due to its influence and impact. While the fundamentals of a top-performing campaign — like solid storytelling — remain very much intact, the landscape is evolving to inspire creative innovation and enable digital integration.

    CVS Partners with Grubhub for Deliveries From its 6,000+ Stores [Retail TouchpointsCVS Pharmacy has partnered with Grubhub to make thousands of beauty, household, wellness and convenience items available for delivery from its 6,000+ stores in 48 states.

    Authentic Brands Group optimizes online customer experience with AI [Chain Store AgeAuthentic Brands Group (ABG), owner of a portfolio of more than 40 lifestyle, entertainment and media brands, including retailers such as Eddie Bauer, Reebok, Barneys New York, Brooks Brothers, Ted Baker, Forever 21 and Juicy Couture, is deploying AI-based shopping optimization technology from Fast Simon across multiple banners.

    How Property Managers Are Beating the Squeeze With Automation [PropmodoProperty managers are being asked to do more with much less. Finding cost-efficient strategies to maintain properties will be pivotal throughout 2024. Automating specific tasks is a significant way to save time and cut costs.

    PropTalk

    Brookfield redeveloping retail centers with eye to luxury [WWDBrookfield Properties, which owns 160 retail properties in seven countries, is in growth mode globally while doubling down on redevelopment of some US properties to focus on luxury.

    Ikea is betting you’ll come to its coworking space in a mall, then shop at one of its stores [Business Insider]  Ikea is buying up malls and adding coworking spaces, food halls, and other attractions. Malls from California to the UK already use Ikea’s model, which usually consists of an Ikea store plus other tenants.

    How America’s once great department stores became a dying breed [CNN]  Wonder Group, the ghost kitchen food hall founded by Jet.com founder Marc Lore, is opening a 750-square-foot location inside Walmart, marking its first shop-in-shop.

    Will Marc Lore’s Ghost Kitchen Concept Work Inside Walmart? [RetailWire]  Wonder Group, the ghost kitchen food hall founded by Jet.com founder Marc Lore, is opening a 750-square-foot location inside Walmart, marking its first shop-in-shop.


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