| A Weekly PropTech Newsletter bringing you industry updates from across the real estate spectrum |
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| If you’re reading this, congratulations! You’ve survived the biggest holiday shopping days of 2024! And, you’ve almost survived 2024, which is no small feat! As we reflect back on this year, while it’s been an exciting one, especially in the world of retail technology, we must say that we are enthusiastically looking forward to 2025. We expect there to be continued forward progress and refinement in our field, which aligns with thinking shared by Richard Kestenbaum in Forbes. While this can sound “scary” at first glance, it’s actually a positive indicator for the industry and we’re ready and excited to continue being your first-stop for a pulse on the latest.
It appears that drone delivery will also continue to see exciting progress in 2025, as will (of course) implementation of AI technology and off-price retailing. We’re intrigued to see if properties can find a new “ideal-mix” when it comes to tenants, or if experimentation will continue, and are also paying attention to the ever shifting DTC space.
As we close out the year, we wish you and your loved ones a joyous holiday season and a wonderful start to 2025! This marks a special milestone for us at NextRivet as we celebrate our 5th anniversary—and nearly just as long for this newsletter! We’re incredibly grateful for the opportunity to drive digital innovation in physical real estate across 15+ countries. None of this would be possible without our amazing team, visionary partners (stay tuned for exciting news on this front next month!), and our supportive network. To everyone who has been part of this journey—thank you.
We’ll be taking a short break from the newsletter to spend time with family and friends and will return to your inbox on January 6, 2025. In the meantime, follow us on LinkedIn for updates and insights. Happy Holidays from all of us at NextRivet! |
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| Why Online Returns Are a Hassle Now [The Atlantic] Retailers, dealing with the high costs of rampant returns since the start of the pandemic, plus a growing problem of return fraud, have begun to issue stricter, sometimes byzantine, return policies and processes over the past few years.
Walmart employees are now wearing body cameras in some stores [CNBC] Some Walmart employees are now wearing body cameras in U.S. stores as part of a pilot program. The tech, widely deployed in law enforcement, is now being expanded into retail to help deter conflict and prevent theft. TJX Companies said earlier this year that its loss prevention employees are using body cameras in some locations.
Consolidation Is Coming To Retail Technology [Forbes] At any retail trade show or conference, the exhibit floor has hundreds and sometimes thousands of technology companies. Almost all of them have something of real value to retailers. The problem is that there are so many vendors, no retailer has enough resources to evaluate and implement all the technology that’s on offer. |
| AI to influence over $200B in holiday sales [RetailDive] As more retailers integrate AI into the shopping experience, AI is on pace to drive more than $200 billion in holiday sales, a 12% jump from last year. Since Cyber Monday, retailers’ usage of generative AI has grown 23% week over week.
Salesforce: Global online holiday sales hit $849 billion so far [Chain Store Age] Global online sales for the 2024 holiday season have reached $849 billion, a 4% year-over-year increase. This is cooler than the 8% year-over-year global and U.S. online sales growth Salesforce recorded during the first four weeks of the 2024 holiday season, but is still a significant improvement following months of slow digital sales growth.
Bloomingdale’s adds fulfillment option for luxury DTC brands [RetailDive] To build up its e-commerce operations, Bloomingdale’s has partnered with retail connectivity platform Lucky. With the integration, online shoppers can check whether their desired items are available at a nearby Bloomingdale’s location while browsing various brands’ DTC websites and buy the products for same-day delivery or pickup. |
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| Thai Malls Redefine Retail with Immersive Design in the Age of E-Commerce [Branding in Asia] Malls are alive and kicking in the far east and when it comes to defining the standard, Thai mall design is a breath of fresh air, emphasizing immersive experiences and offering a modern engaging visual spectacle. It transcends mere shopping, embedding art, architecture, and gastronomy within captivating spaces that make each visit a journey through culture, beauty, and craftsmanship.
Malls Are Betting You Still Want That Gucci Bag—at a Discount [The Wall Street Journal] The global luxury sector is suffering a downcycle. After years of supercharged sales for designer goods, more customers are balking at the steep prices these retailers are asking. But real-estate investors, retailers and landlords are betting that shoppers’ increasing desire for the finer things remains strong—as long as the prices are more reasonable.
Wing and DoorDash Partner on Drone Deliveries From 2 North Texas Malls [Dallas Innovates] Drone delivery company Wing is partnering with DoorDash and Brookfield Properties to offer ultra-fast drone delivery from two North Texas malls—just in time for the holidays. The service is now available at Brookfield Properties’ Stonebriar Centre in Frisco and Hulen Mall in Fort Worth. |
| Edinburgh Airport welcomes new Sainsbury’s shop – the store’s first airport location [Edinburgh News] The new convenience store, that will be open 24 hours a day, is Sainsbury’s first shop based within an airport and is located before security to serve customers passing through from arrivals and departures at Scotland’s busiest airport. The shop will also offer a Click & Collect service in store, allowing customers to place online orders from Sainsbury’s, Argos, Habitat and Tu Clothing brands.
Malls are using new restaurants to draw consumers as shopping centers reinvent themselves [CNBC] Mall owners are devoting more square footage to restaurants and bars in the hopes that diners will shop after dinner. Malls are supplementing food court mainstays with more upscale, full-service restaurants, plus introducing food halls catered by local vendors.
Alibaba Expects to Book $1.28 Billion Loss on Sale of Department Store [The Wall Street Journal] Alibaba Group is set to book an over $1 billion loss on the sale of its department-store chain Intime, which marks the Chinese tech giant’s latest move away from offline retailing. The company said that it and a minority shareholder have agreed to sell Intime to textile and clothing firm Youngor Group for gross proceeds of around 7.4 billion yuan, equivalent to around $1.02 billion. |
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