| A Weekly PropTech Newsletter bringing you industry updates from across the real estate spectrum |
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| Mall operator Simon recently relaunched its online marketplace, now branded as ShopSimon, with an expanded focus on on-sale and discounted products. Previously limited to offerings from Simon’s nationwide outlet centers, the updated site now showcases deals from a wider range of retailers. As off-price, outlet, and value-driven retailers continue to outpace traditional full-price and luxury brands in today’s shifting economy, this launch couldn’t be more timely or strategic. Not only does it help retailers efficiently clear inventory, but it also connects them with Simon’s broad digital audience, meeting the growing consumer demand for value. It’s a smart solution that benefits retailers, shoppers, and Simon alike—a true win-win-win.
AI is of course a main-stay in the headlines as predictions about how products from Snap and Meta could change the real landscape, an article about the art of real estate had an interesting take, and as back to school gets underway, Amazon introduces new technology to make life easier for college students. Check us out over on LinkedIn for more headline takeaways. |
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| Amazon tech automating 10 new campus c-stores [C-StoreDive] Amazon is incorporating its Just Walk Out frictionless checkout technology into 10 on-campus convenience stores. This will bring the worldwide total of Just Walk Out campus c-stores to more than 30 across three countries.
How trends in delivery, AI and resale will shake up retail this fall [Chain Store Age] Based on industry activity during the past few months, I have identified three retail technology trends shaping up to have an impact on enterprise activity this fall – automated delivery, proprietary artificial intelligence, and resale. |
| Virtual try-on offers more sales: Perfect Corp. [RetailDive] Brands reported a 2.5 times increase in sales conversion upon implementing virtual try-on technology, according to Perfect Corp’s AI trends report. Perfect Corp. surveyed industry leaders for their opinion on the potential of AI applications to create immersive customer experiences.
Shoppers’ online fraud fears escalate [RetailDive] Identity theft is the top concern of consumers who are shopping online. The credit monitoring company Experian polled 2,000 consumers and found that 84% said they worry about identity theft, a 20 percentage point increase from a 2023 survey. |
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| AI Glasses From Snap and Meta May Reshape How We Shop [PYMNTS] Snap and Meta may be poised to introduce advanced artificial intelligence-enabled glasses, potentially transforming eCommerce and brick-and-mortar retail experiences. The Information reported that Meta Platforms is on the brink of unveiling next-generation AI-powered glasses, adding credence to the industry rumors. |
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| Kansas City shopping center credits 600-pound AI security robot with crime reduction [KMBC News] A 5-foot-tall, 600-pound security robot named Marshall is making waves at Brywood Centre in Kansas City by reducing crime by about 50%. Marshall, built on a smart car frame, is equipped with cameras in every direction and records 24/7. It is the only unit of its kind in public anywhere near Kansas City and can read license plates and even recognize individuals as they walk by.
Bolt CEO: Department stores are rising from the ashes [Bolt] The once-mighty titans of retail are faltering. Barneys New York, an icon of luxury shopping, shuttered its doors in 2020. Sears, a 125-year-old institution, teeters on the brink of extinction. Even Macy’s, whose Thanksgiving Day parade is synonymous with American culture, has announced store closures and job cuts. These are not mere stumbles—they are symptoms of a seismic shift in the retail landscape. Yet to write off department stores entirely would be premature. |
| Simon Rebrands and Revamps E-commerce Site With Large Sale-priced Assortment [WWD] Simon, the nation’s largest owner and operator of shopping, dining, entertainment and mixed-use destinations, has revamped its e-commerce website for a much broader selection of sale-priced items. Simon’s website is now called ShopSimon, which replaces Shop Premium Outlets. The expanded and rebranded digital marketplace will include on-sale and discounted merchandise, while continuing to offer outlet products from brands.
Creating an Artistic Buzz, One Real Estate Development at a Time [The New York Times] Growing interest in public art for private projects is altering the face of city centers across the country. The presence of art in real estate developments “drives traffic and engagement,” provides an amenity for office employees and increases sales for retailers, said Michael Phillips, president of Jamestown, an international real estate firm and creator of the rotating art program that includes the display in Industry City. |
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| The traditional retail calendar is becoming more and more obsolete [ModernRetail] The Dunkin’ Spiked Pumpkin Spiced Iced Latte returned in early August, several weeks before Starbucks officially made its autumn menu available to customers. Amazon’s Prime Day had retailers release back-to-school deals early this year to beat the competition. The newly dubbed ‘Summerween’ holiday had retailers embracing the spooky season earlier than ever before. And even though we’re still in the dog days of summer, brands like Pottery Barn and Anthropologie are already peddling Christmas items like snowman-shaped throw pillows and faux cedar garlands. |
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