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ICYMI, David Blumenfeld recently sat down with Mohamed Dabo of Retail Insight Network, to discuss the current state of retail and how mall owners are not just adapting, but actively shaping, the retail experience in this transformative era and are staying relevant in the face of evolving consumer expectations. The article touches on Customer Engagement Platforms (CEP), micro-fulfillment, spatial intelligence, and sustainable and eco-conscious design. We hope you find the insights intriguing and would welcome for you to share the article with your network on LinkedIn.
The impact from Black Friday and Cyber Monday are still making headlines (mostly in a positive sense!), as are shifts in the ghost kitchen space. We were also intrigued by how the luxury fashion industry is evolving online and with regards to fulfillment. Last, but certainly not least, congratulations to our clients on opening a new redevelopment in Guatemala!
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Shopping for Luxury Online Has Fallen Out of Fashion [The Wall Street Journal] Stocks that unite two of the world’s most successful industries, European luxury and American tech, might sound like winners. Instead, companies that sell luxury goods online have turned into quicksand for investors.
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5 ways QR codes can drive virtualization in the retail customer experience [Retail Customer Experience] Phygital marketing — a blend of digital and physical customer marketing experiences — helps retailers sidestep the status quo in favor of moving forward. Tools like QR codes effectively bridge the digital divide.
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Cyber Monday shoppers spent $12.4B online: Adobe [RetailDive] Despite ongoing inflation woes, online consumer spending rose 9.6% year over year to $12.4 billion on Cyber Monday, according to an Adobe Analytics report. Between Nov. 1 and Nov. 27, shoppers spent $109.3 billion online, up 7.3% from last year.
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Micro & Last Mile Fulfillment
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Best Buy increases reliance on distribution centers for customer delivery [RetailDive] “We had the lowest ship-from-store volume as a percent of total since well before the pandemic, with approximately 62% of e-commerce small packages delivered to customers from automated distribution centers,” Barry said.
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How Ole is trying to crack the code to ultra-fast delivery in luxury fashion [ModernRetail] Ole, which is pronounced “oh-lay,” promises to deliver luxury fashion to shoppers on its app within 50 minutes. The startup works with boutiques and retailers by linking to their point-of-sale systems and then deploying bike messengers to move the product.
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Wish launches small parcel delivery service [RetailDive] Wish has launched an end-to-end small parcel delivery service, allowing shippers who don’t sell on the e-commerce platform to use its logistics capabilities. The WishPost Smart Parcel service taps into Wish’s network of third-party carriers covering first mile, international linehaul, customs brokerage and last-mile delivery needs.
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Restaurants & Ghost Kitchens
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Ghost kitchens were supposed to revolutionize restaurants. They’re crashing [CNN Business] Big investors, celebrity chefs and chains rushed to open ghost kitchens during the pandemic, and they were expected to make up more than 20% of the restaurant industry by 2025. But ghost kitchens are now crashing.
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What the ‘new normal’ of restaurant real estate looks like [Nation’s Restaurant News] The restaurant real estate market has been a bit messy as of late, to say the least. Demand is high. Inventory – especially for table stakes drive-thru locations – is low. Costs are astronomical. Construction, supplies, permits are painfully slow.
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McDonald’s aims to open nearly 9,000 restaurants, add 100 million loyalty members by 2027 [CNBC] McDonald’s wants to open more than 8,800 locations and add 100 million members to its loyalty program by 2027.The targets are part of the fast-food giant’s long-term plans to grow sales across its already sprawling restaurant footprint.
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Black Friday weekend shopping turnout soars to a record, as consumers seek bargains [CNBC] Shopper turnout across websites and stores hit an all-time high of 200 million from Thanksgiving Day through Cyber Monday. Shoppers shelled out an average of $321.41 on holiday-related purchases over the weekend. That’s roughly in line with last year. The strong turnout comes as shoppers bargain hunt and retailers strike a more cautious tone.
Oakland Mall se transforma en Oakland Place, conozca este asombroso lugar [Emisoras Unidas] Spectrum, the market-leading real estate developer, announced the transformation of Oakland Mall to Oakland Place, a gathering space where the community connects for unique shopping, dining and entertainment experiences.
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Shaping tomorrow’s shopping: how mall owners are crafting the future of retail [Retail Insight Network] In an exclusive interview, David Blumenfeld of NextRivet explores how mall owners are not just adapting but actively shaping the retail experience in this transformative era.
‘Customers are looking to stretch dollars’: Tanger CEO on why Black Friday traffic rose 4% across its portfolio [ModernRetail] Tanger, which operates 39 open-air shopping centers across the US and Canada, said that traffic over Black Friday weekend rose 4% from the previous year. Stephen Yalof, Tanger CEO and President, said that its outlet centers were particularly packed due to shoppers looking to stretch their dollars.
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Teens need malls. Malls need crowds. Why are they pushing kids away? [The Guardian] Dozens of US shopping centers have put curfews in place, fearing unruly behavior. It’s counterproductive for everyone involved.
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