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    PropTech Newsletter: The Week In News, But Shorter

    October 7 - 13, 2024


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    The Week In News, But Shorter
    October 7 – 13, 2024

    A Weekly  PropTech Newsletter bringing you industry updates from across the real estate spectrum



    This week saw significant attention on checkout automation, and it’s clear that the technology continues to evolve. While it’s fascinating to see Amazon refining its Just Walk Out technology and innovations in smart shopping carts, the bigger takeaway is that no one has fully mastered the execution yet. However, there’s a clear and growing demand from both consumers and retailers for these solutions. Integrating automation into your centers isn’t just a forward-thinking move—it’s becoming critical for long-term success in the retail space.

    Other key highlights this week included a focus on the rise of strip malls across the U.S., the first-of-many 2024 holiday retail predictions, and how micro-fulfillment is shaping retailers’ strategies. We’ll be at SXSW Sydney this week—feel free to reach out to us on LinkedIn if you’ll be there too!

    Digital Meets Physical

    Amazon bets on selling cashierless technology to retailers after pulling it from most U.S. stores [CNBCWhile it’s no longer featuring Just Walk Out as prominently in its own stores, Amazon says it has inked deals with a growing list of customers. More than 200 third-party stores have paid Amazon to install the cashierless system. The company expects to double the number of third-party Just Walk Out stores this year.

    Sam’s Club tests a future without checkout lines [CNBCSam’s Club is opening a club in the Dallas area that offers a glimpse of its future. The club will have no checkout lanes, will display online-only items and will have a larger area for fulfilling e-commerce orders for curbside pickup and home delivery.

    A flying shopping cart could make your future grocery runs that much easier [FoxCan you imagine cruising through the grocery store without ever dealing with a wonky wheel or struggling to turn corners with those conventional grocery carts? That scenario might soon become a reality, thanks to an innovative new invention called the Palletrone.

    Instacart adds gamification to smart cart solution [Chain Store AgeThe grocery technology company is introducing gamified quests, location-based coupons, and aisle-aware advertising formats to its AI-equipped Caper Cart smart cart offering. These new features follow updates including upgraded AI models and new in-store rewards Instacart unveiled in September 2023.

    Automated-checkout company Grabango shuts down [GroceryDiveThe tech company, which made a significant reduction in its workforce last year, was unable to secure the funding it needed to continue operating, a spokesperson said.

    PropTalk

    Another rough year for department stores [RetailDiveIt’s been another rough year at U.S. department stores so far, at least for those making their financial filings public. Several of them — public and private — have embarked on turnarounds or are contemplating changes that could be a final test of a challenged retail model.

    2024 holiday shopping sales predictions [ReutersU.S. retailers are gearing up for a shorter-than-usual holiday shopping window this year, with price-conscious shoppers focused on deals and promotions around key events such as Black Friday and Cyber Monday. Below is a compilation of projections by various data analytics firms.

    Why the U.S. is covered in strip malls [CNBCWhile some outlets like traditional malls have struggled to retain shoppers, foot traffic to strip malls is booming. Annual visits to strip malls surged 18% last year compared with prior to the pandemic, according to data compiled by analytics company RetailStat.

    Save A Lot entering New York via micro-fulfillment center [Chain Store AgeLater this month, the Missouri-based discount grocery wholesaler is opening a Brooklyn-based online fulfillment center equipped with Fabric micro-fulfillment technology. This effort is part of a larger expansion which includes a push into New York City.

    EXCLUSIVE: H&M Gets Inventive With Evolving Retail Presence [WWDH&M is getting increasingly inventive, consumer-centric, and less “cookie-cutter” in its store rollout. The Stockholm-based fashion specialty retailer is applying technologies to improve the customer experience, localizing assortments and testing some new concepts and services, while continuing to increase its store count. Much of the investment is happening in New York City.

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