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    The Week In News, But Shorter

    April 15- 21, 2024


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    The Week In News, But Shorter
    April 15- 21, 2024



    A video from CNBC this week hit on a point we’re happy to see articulated. The American mall is doing just fine (something we know well), but what isn’t doing so well is the American department store (also something we know well). What’s the new bit? That the fall of the department store was a false harbinger of the fall of the mall thanks to quick thinking and redevelopment from property owners. For so long (for always?) the symbiotic relationship between department store and mall meant that these anchor properties had to succeed in order for a mall to succeed, but as the likes of JC Penny’s, Sears, Macy’s and others have seen better days, the ability to pivot these large spaces into other experiential opportunities has meant that the mall survives, even if the department store does not. It’s nice to see this acknowledgement and we’re proud to have helped many property owners succeed in this pivot. Need help pivoting your center? #LetsChat.

    Just as successful property owners have pivoted as outlined above, there has been an unexpected category of retailers that have made their way to outlet malls in the past few years.  And it wouldn’t be a Week In News, without a story about how AI could impact commercial real estate, an area we are trying to keep a close eye on. Let us know what you are seeing over on LinkedIn.

    Digital Meets Physical

    GoPuff debuts ‘Powered by Gopuff’ platform for CPG brands [Chain Store AgeGopuff is launching a new platform to allow brands to fulfill e-commerce orders on their own websites. The Powered by Gopuff platform will offer a suite of solutions that help brands deliver from their owned-and-operated direct-to-consumer (DTC) websites in as fast as 15 minutes leveraging Gopuff’s logistics network, instant fulfillment infrastructure and technology.

    Maison Margiela aims to drive loyalty with new phygital product launch [GlossyThis week, both Maison Martin Margiela and the digital fashion startup Mmerch launched web3 products catered to collectors. On Wednesday, Maison Margiela launched the public mint for its MetaTABI NFT. Its iconic split-toe boot was transformed into a digital product offering exclusive benefits for the brand’s luxury clientele. 

    Amazon begins offering Dash Carts to other grocers [GroceryDiveAmazon has begun offering its Dash Carts to third-party grocers, expanding the checkout technology beyond Amazon grocery banners and Whole Foods Market stores. The spotlight on Dash Carts comes just a few weeks after Amazon announced it would discontinue its Just Walk Out technology.

    Gucci’s Gamble With Apple Vision Pro Examined [ForbesIn the evolving landscape of human-computer interaction, the introduction of Apple Vision Pro signifies a pivotal advancement, reminiscent of earlier developments like the iPod and iPhone. But, while it represents a significant evolution in spatial computing, setting a new standard for how technology integrates into our lives, the audience for the Vision Pro is significantly smaller.

    Inside Amazon’s Secret Operation to Gather Intel on Rivals [The Wall Street JournalStaff went undercover on Walmart, eBay and other marketplaces as a third-party seller called ‘Big River.’ The mission: to scoop up information on pricing, logistics and other business practices.

    PropTalk

    How American malls survived the slow death of department stores [CNBCThe American mall is alive and well. Department stores — which were historically the most important real estate in the nation’s malls — are a different story.

    Why Outlet Malls Are Emerging As A Hotspot For Luxury Brands [ForbesLuxury brands have a love-hate relationship with outlet stores and malls. Some eschew them entirely, such as Louis Vuitton, Hermès and Chanel. Others keep their outlets on the down-low, such as Prada and Gucci. And some, like Coach and Ralph Lauren, grew overly dependent them and pulled back because their discount image was giving the brand a bad name.

    How Malls Are Making a Comeback in 2024 [TotalRetailShopping centers have proved their resilience over the past couple of years, staging an impressive comeback following the back-to-back challenges of COVID restrictions and inflation. But although foot traffic is bouncing back, shopping habits are changing — and leading malls are trying new tactics to draw consumers through their doors.

    Restaurants Put Proptech on the Menu [Commercial ObserverFood for thought: While commercial real estate is replete with examples of proptech affecting malls, offices, stores and industrial niches like data centers, it’s probably affecting the restaurant industry more than all the others.

    AI’s Rising Tide Has Potential to Transform Commercial Real Estate [Commercial ObserverFortune Business Insights estimated the North American AI market size was $176 billion as of 2022 and projects a compound annual growth rate of 21.9 percent from 2023 to 2030. A far more futuristic outcome could be the rise of “smart cities” where infrastructure and services are optimized through AI. This could significantly impact commercial real estate, creating demand for buildings equipped to handle advanced data integration and automation, and replacing flight to quality with an even higher level of operational optimization: a flight to AI-ready buildings.

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