| A Weekly PropTech Newsletter bringing you industry updates from across the real estate spectrum |
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| In this week’s newsletter, we found three articles discussing the toping of bridging the online and offline retail worlds. Whether to drive shoppers in-store, sync inventory, or offering add-on services, there are plenty of reasons and ways to make the experience more seamless for shoppers. The headlines below focus on retailers, but by default this applies to property owners as well. As retailers try to unite their online and offline worlds, retail properties naturally play a part in that journey and the more intentionally involved you are in the process and experience, the more in control you are (and the more potential you have for upside.) We’ve talked lots about what this looks like in past newsletters, but we’d love to brainstorm with you on how this would look for your unique property. Let’s chat!
Our own David Blumenfled was featured in this month’s issue of ACROSS Magazine where he discussed the “forever hot” topic of data sharing between landlords and tenants, and the best ways to start to break down these barriers. Let us know over on LinkedIn what you thought of the article. This week we also shifted our attention to A malls (vs. our focus on B malls last week), and how some are using technology to help with their transformation. |
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| Which Designer Brands Will Start Selling on Amazon With Saks? [WWD] Amazon is just about to take a step closer to its dream of building a real presence in luxury fashion. Saks Global — which has been modernizing its business since buying Neiman Marcus in December — is preparing to open a shop on Amazon.
Instacart May Have Started with Grocery Delivery, but its Future is Focused on Stores [Retail Touchpoints] Instacart has made significant progress in convincing Americans that grocery shopping can be done online, but the strategy is that on a 10-year horizon, customers won’t have to choose between shopping online or in store; it’ll be one single, unified mode, powered by Instacart. |
| Here’s How Patagonia Uses Tech to Drive E-Commerce Consumers Into Stores [Sourcing Journal] Locally, founded more than 10 years ago by Mike Massey, its CEO, and Ben Hirsch, now its CTO, integrates its technology with brands’ sites to show consumers where they can view or purchase an item in person at a retail store.
Ulta Beauty connects in-store inventory to beauty brand sites [Chain Store Age] Ulta Beauty is partnering with an omnichannel commerce platform to increase the shoppability of its store stock. The beauty retailer is collaborating with Lucky to enable beauty brands to seamlessly connect their direct-to-consumer websites and marketing with its in-store inventory in real time. |
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| Ikea expands integration with assembly services platform [Chain Store Age] Ikea is building out the customer service offered by its Taskrabbit subsidiary. Previously, Ikea customers could receive a furniture assembly quote through the Ikea website while purchasing their furniture; but booking and paying for the assembly service required a separate step on the Taskrabbit assembly platform, which it acquired in 2017. |
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| Data Sharing Begins with the Right Mindset [Across Magazine] Data exchange in the shopping center industry is still in its infancy, states David Blumenfeld, Co-founder of NextRivet. While the benefits of data sharing between landlords and tenants are obvious, retailers are not enthusiastic about giving their landlords more insight into their business. For efficient data sharing, an honest and good lease relationship is essential.
American Dream to host big — and free — Jonas Brothers event [Chain Store Age] The Jonas Brothers announced they will hold “JonasCon,” a one-day event taking place at American Dream. Described as the “ultimate Jonas Brothers free fan experience,” the event will feature live performances, DJ sets, Q&A panels, fan activations, pop-up surprises, immersive experiences and special guest appearances to celebrate the band. |
| ESG in retail: How digital twin technology is transforming shopping malls & retail spaces [ET Edge Insights] Shopping malls and retail establishments are undergoing a significant transformation, driven by the desire for inclusivity, efficiency, and sustainability. The post-pandemic landscape has reshaped consumer behaviour, with shopping preferences evolving in ways unlikely to revert to past patterns.
The American shopping mall is being reinvented [CNN Business] Malls were once home to major department stores, until the convenience of e-commerce drew shoppers away and led to closures. But consumers are most enticed by value and the immediate reward of shopping, prompting some developers to completely revamp the retail experience. They’re reconfiguring malls so consumers can live within steps of their favorite shopping or dining spots. |
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