| A Weekly PropTech Newsletter bringing you industry updates from across the real estate spectrum |
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| Two recent newsletter topics have had call-back’s in this week’s headlines. Last week we looked at why your property’s “air rights” matter as AR/VR grows. This week a study found nearly 6 in 10 consumers bought something after using AR features, which underscores the point. If you weren’t convinced that this was something to be paying attention to before, perhaps this new insight might push you to reconsider. A few weeks ago we focused on the evolution of anchor tenants and some of the more unconventional ones we’ve seen popping up. This week, CoStar reported that service-based tenants leased just over 50% of total retail square footage in 2025, compared to 40% fifteen years ago. Not to toot our own horn, but we promise you we are paying attention to the real trends in the industry and we hope you trust us to bring them to you first in these newsletters.
Also in the headlines, how AI is impacting digital retailers and physical retailers alike, which retailer just won an Oscar, and what’s next for one of the most famous shopping streets in the world. Reminder: we also share these newsletters on LinkedIn so sharing them with a friend is as easy as tagging them into the post. |
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| Shopify is preparing for AI shopping agents to change everything, exec says [TechCrunch] Shopify is the second-largest e-commerce provider in the U.S. behind Amazon. But Finkelstein says that only about 18% of retail purchases in the U.S. are made online. Agentic can change that, acting as a new front door for e-commerce sellers.
Target’s Tech Chief Has a Big Role to Play in Turnaround Plan [The Wall Street Journal] Artificial intelligence and improved technology will be central to Target’s recovery after several years of sluggish performance. The company plans to invest about $6 billion this year in its stores, workers and technology to turn the tide.
E-commerce retailers plan hefty investments in agentic commerce, study finds [RetailDive] The lion’s share of e-commerce retailers have invested in agentic commerce in some form, most often to boost revenue growth and customer experience, according to a LogicBroker survey of over 600 enterprise e-commerce. Nearly 96% have invested in AI capabilities. |
| How AI Will Reshape Retail Buying Power [WWD] Retail technology and buying intelligence platform NuOrder by Lightspeed announced it is accelerating its European expansion through a new partnership with Boozt, one of the largest e-commerce retailers in the Nordics. The partnership will streamline its buying operations and replace manual workflows and comes as retailers increasingly embrace AI and centralized product data to make faster, more informed assortment decisions.
Amazon launches 1-hour, 3-hour delivery options [GroceryDive] The offerings, now available in select cities and towns, feature a “supercenter” product assortment as the e-commerce giant battles competitors like Walmart.
Walmart and Target Are Battling to Show Up in AI Shopping Tools. Here’s How Their Strategies Compare [AdWeek] Two of America’s biggest retailers and longtime rivals—Walmart and Target—are betting big on how AI influences what people buy. But their strategies are significantly different, and give a glimpse into the state of AI commerce. |
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| Survey: Nearly six-in-10 consumers have purchased an item after using AR features [Chain Store Age] While its popularity is still growing, immersive technology has a strong impact on purchases. A new survey from B2B service provider platform Clutch reveals that six-in-10 (60%) consumers have used augmented reality (AR) or virtual reality (VR) technology, and more than half (54%) say they are likely to increase their use of immersive technology over the next two years. Nearly six-in-10 (58%) consumers have made a purchase after using AR features. |
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| Fifth Avenue’s next chapter: Inside the push to evolve the iconic shopping corridor [ModernRetail] In the world of global retail, Upper Fifth Avenue is a storied institution. It’s known for glitzy flagships, like Tiffany & Co and Gucci, but it’s also an area that’s been well-trodden by local employees, sightseers and native New Yorkers. In the truest sense of the word, “Fifth Avenue really is the most attractive street in the world,” said Ed Pincar, president of The Fifth Avenue Association, gesturing to the bustling scene before him.
How to put retail leases in the ‘asset’ column [Chain Store Age] Retail leases go down as liabilities on the balance sheet, but another option is to see them as assets that can be used creatively. That might sound like verbal jiujitsu, but the right approach can help you achieve real-world outcomes like reducing your occupancy costs or reinvesting in your stores. Here are three tips for healthy and distressed retailers who want to ramp up their real estate performance.
Galeries Lafayette-backed Short Film Wins Oscar [WWD] The Galeries Lafayette Group-produced “Two People Exchanging Saliva” took home the Oscar for best live action short film Sunday night, marking a Hollywood victory for a project with Paris retail support. |
| How America Learned to Love Barnes & Noble Again [The Atlantic] In a world more online than ever, Barnes & Noble is experiencing a revival. It opened 60 new stores last year and plans to do the same this year. It is reportedly soliciting banks to handle an IPO—a sign that a turnaround effort by Elliott Investment Management, the hedge fund that took the company private, has reached its conclusion.
America Now Has More Spas and Gyms Than Stores Selling Actual Stuff [The Wall Street Journal] When Americans are out shopping these days, they are more likely to be buying Botox or boxing lessons than shoes or shampoo. Retail leasing by service-oriented tenants outpaced goods-based retail leasing for the first time ever, a reversal driven in large part by a proliferation of salons, spas and fitness studios.
Walmart to test ‘rapid remodel’ process for faster results [Chain Store Age] Instead of stretching a remodel over several months, the new process condenses the work by temporarily closing the main sales floor for four weeks and keeping the store’s pharmacies and fuel stations open. As part of the remodel process, store employees will work alongside Walmart’s remodel teams, setting up new fixtures, organizing products and preparing the store. |
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