The Week In News, But Shorter

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The Week In News, But Shorter
March 11 – 17, 2024

Simon Properties jumped into the online advertising fray this week with the launch of its new retail media network through its Shop Premium Outlets online marketplace.    Following Amazon’s lead, multi-brand retailers like Walmart and Macy’s have been dramatically ramping up their advertising efforts, leveraging significant amounts of customer data to deliver highly personalized ads and ultimately creating new revenue streams.  The lack of a first-party customer data has always been a large barrier to entry for malls looking to deliver targeted online advertising, but Simon’s marketplace has seemingly unlocked this channel for shopping malls. We’re very intrigued to see how these efforts pan out. 

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

Inside Inditex’s $2 Billion Logistics Expansion [Sourcing Journal] Zara parent Inditex is doubling down on its logistics capabilities, spending 1.8 billion euros ($2 billion) over the next two years to build three new distribution centers and expand another facility.

Simon’s Affordable Luxury Outlet Is Becoming Its Own Retail Ad Network [Retail Touchpoints] The online marketplace from mall operator Simon Property Group and Rue Gilt Groupe — has launched a retail media network powered by Mirakl Ads, a new retail media offering from marketplace solution Mirakl.

Macy’s names new head of media network [Chain Store Age] Michael Krans will lead the department retailer’s in-house media publisher, which works with advertising partners to engage shoppers. He joins Macy’s following his most recent role leading the fashion team at Walmart Connect.

Proptech and the Re-Malling of America [Commercial Observer] NextRivet and Kyle Spencer were featured discussing how mall owners and retail property tenants are increasingly using proptech to lure back shoppers and reimagine their spaces.

Apple recently dropped clues about its AI strategies, and they have the potential to revolutionize the industry [CRETech] Apple is setting a new tone regarding AI in 2024, as evidenced by its latest product release, the M3 MacBook Air. For the first time, the company is advertising its hardware as an AI-running machine.

PropTalk

Irvine Company’s Strategy for Keeping Leasing High in a Down Market [Propmodo] Irvine Company highlights the importance of adapting office spaces to current tenant needs with amenities and flexibility being key drivers demonstrating that targeted investments and a focus on tenant experience can yield positive results.

On plans 100 more stores in the coming years [RetailDive] The Swiss athletics brand continues to build out its global footprint, opening stores in China, Germany and Latin America as it leans into its DTC channels.

The world is in the midst of a city-building boom [The Economist] Firms and governments are planning more settlements than at any time in the post-war period, with many already under construction.

The NYC Building Makeover Being Watched Around the Country [WSJ] A nearly 100-year-old office building in New York City is undergoing a massive retrofitting to slash its emissions. The $35 million project could serve as a blueprint—or warning—for property owners around the country.

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