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    The Week In News, But Shorter

    May 19 - 26, 2024


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    The Week In News, But Shorter
    May 19 – 26, 2024



    We hope our U.S.-based readers enjoyed a long Memorial Day Weekend!

    We’re coming up for air after another busy, but productive time at ICSC Las Vegas! We especially enjoyed an article in GlobeSt that captured sentiments from Barrie Scardina during her panel discussion, noting that retail innovation is more prevalant than ever. But, what about property owners? Retailers are often in the lead for technology integration — this doesn’t mean that property owners should sit around and wait. Attracting new tenants means being ahead of the curve of innovation. Retailers utilize these solutions to increase efficiency, but savvy mall owners and operators are working with tenants to address their key concerns, and implement proptech solutions that solve the problems of the contemporary retail ecosystem. Let us know if you agree or disagree over on our LinkedIn.

    This week we also caught up on what the state of retail store openings and closings look like, some new experiences coming to one of the biggest malls in the U.S., and ongoing updates in the delivery wars. More below!

    Digital Meets Physical

    How Retailers Are Leveraging Technology [Globe St.“Every generation has a different relationship with technology and that is one complexity that retailers must address.” That is according to Barrie Scardina, President of Americas Retail Services, Agency Leasing & Alliances, Cushman & Wakefield.

    Amazon Is Reviving Its Logistics Expansion and Reshaping Its U.S. Distribution [The Wall Street JournalAmazon.com’s postpandemic pullback in logistics expansion is over as the company turns competition for consumer spending into a battle over real estate. The e-commerce market leader is buying up industrial property and restructuring its sprawling distribution network as it looks to speed up package delivery and cut shipping costs.

    Lowe’s CEO explains why the company is partnering with Big Tech [CNBCLowe’s CEO Marvin Ellison said Lowe’s works with Nvidia on AI technology that helps with “sourcing logic, inventory planning, pricing.” Lowe’s also developed a product for Apple’s Vision Pro that aims to make it easier for customers to visualize their home improvement projects.

    Ulta Beauty offers delivery via DoorDash across all 50 states [DrugStoreNewsDoorDash and Ulta Beauty are expanding their partnership to offer on-demand delivery from more than 1,350 locations across the nation. Shoppers are now able to add more than 25,000 products from more than 600 well-known and emerging brands across the cosmetics, fragrances, skincare, haircare and wellness categories on the DoorDash app.

    Walmart fires back at Amazon in fast delivery race [RetailDiveWalmart delivered 4.4 billion items with either same-day or next-day shipping speeds in the U.S. over the past 12 months, President and CEO Doug McMillon said. The retailer delivered about 20% of those goods in under three hours.

    PropTalk

    Mall of America Leads Push to Unique On-Site Experiences [PYMNTSAs shoppers turn to eCommerce channels for convenience, many are still willing to go to brick-and-mortar malls for unique, site-specific experiences. Seizing on this demand, Mall of America, the largest shopping center in North America, announced that it will soon open an on-site game-show-style amusement center, Great Big Game Show, where consumers play the sorts of games they may see broadcast on TV.

    Real-Estate Downsizing Finally Comes for Your Pharmacy [The Wall Street JournalNational drugstore chains, once resistant to the retail apocalypse that swept across the U.S., are finally succumbing to competition from online shopping and discount stores. About 3,000 fewer drugstores were open for business at the start of this year compared with the same period in 2019, according to analytics company RetailStat, which tracks 15 pharmacy chains.

    New Report Suggests a Normalization of Store Openings and Closings [WWDExtensive store closings announced by Express, Rue21, CVS and Macy’s make for big headlines, yet in actuality, the U.S. retail landscape is stable. That’s a key takeaway from a Coresight Research report issued a few days ago showing this year’s pace of store closings is on a track similar to last year’s, reflecting “normalizing” trends.

    How Michaels Reconfigured its Fulfillment Models to Dramatically Enhance Ship-From-Store Performance [RetailTouchpointsMichaels had a major ecommerce ship-from-store challenge. It’s not that this fulfillment method wasn’t popular — the arts and crafts retailer shipped nearly 3 million orders from its 1,300+ stores in 2023. But the lack of a systematic approach to assortment and order prioritization meant that stores were shipping items to too many far-away locations.

    Big city malls the future for Klepierre in battle with online [ReutersMall operator Klepierre is focusing on Europe’s most dynamic and affluent big cities and offering experiences beyond shopping to compete with fast-growing online retailers. “I don’t believe in the disappearance of physical retail … but rather in a concentration, and so all our work has been to concentrate on the big cities, the big shopping centres, which are the most dynamic,” Jestin said in an interview.

    How Department Stores Are Targeting Younger Customers For Survival [ForbesDepartment stores such as Macy’s and Kohl’s are historically more popular with older demographics and have struggled to appeal to Gen Z and millennials. With these younger generations representing a much larger audience, there is an urgent need to attract these audiences, especially as customer spending has decreased and hurt most department stores.

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