Retail Stores
For decades, the rhetoric around national retail real estate vacancies has been around the โretail apocalypseโ conversation, how over-retailed we are as a country and what to do with all the empty spaces. Many professionals in the industry never thought they would see the day that 98 percent of shopping center retail spaces listed inโฆ
Walgreens plans to close a large share of its U.S. stores over the next three years, CEO Tim Wentworth said on a conference call with industry analysts on Thursday. Wentworth described a quarter of the company's 8,500 stores as "underperforming," saying the pharmacy chain would close a "significant portion" of those locations. The exact numberโฆ
Amazon.com has been successful with many unusual strategies over the years, but one of the companyโs most recent wins has been convincing retailers to undervalue their physical assets and focus on trying to compete in the online sphere. This focus on digital commerce has successfully distracted retailers from fully monetizing the massive opportunity already withinโฆ
According to IBM's 2024 Consumer Study of over 20,000 consumers across 26 countries, only 9 percent of consumers are satisfied with the in-store shopping experience. Despite the enduring presence of physical stores, this widespread discontent stems from a yearning for more seamless technology integration into consumer journeys. As retailers grapple with the implications of thisโฆ
Netflix announced Tuesday it plans to open two experiential spaces for entertainment, shopping and dining in 2025. Dubbed "Netflix House," the two locations โ slated for King of Prussia Mall outside of Philadelphia, and Galleria Dallas in Texas โ are marketed as a "year-round home for fans to live the stories they love." A companyโฆ
As retailers compete to attract customers and earn their loyalty, the in-store experience is undeniably a key differentiator. Since 80 percent of shopping still happens at brick-and-mortar locations, retailers are rapidly deploying a clever mix of new technologies and redesigned in-store experiences to appeal to consumers. Despite these innovations, however, there is an ever-present riskโฆ
Revolve Group (RVLV), the next-generation fashion retailer for millennial and Gen Z consumers, last week announced the opening of its first ever permanent physical retail location in Aspen, Colorado. This decision follows the success of the REVOLVE and FWRD Pop-Up shopping experience that opened in the same location in December. Located in Aspen's shopping district,โฆ
When it comes to shopping, every element within a store can contribute to each customerโs overall shopping experience. For example, researchers from the University of Bath found that on weekdays, playing music in grocery stores can increase sales by more than 10 percent. Unsurprisingly, retailers across the globe are exploring how to use background musicโฆ
Retail sales jumped significantly in May, showing strong increases both month-over-month and year-over-year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF). Total retail sales, excluding automobiles and gasoline, were up 1.35 percent seasonally adjusted month-over-month and up 3.03 percent unadjusted YoY in May, according toโฆ
Fatherโs Day spending is expected to reach $22.4 billion this year, according to an annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. This is the second highest figure in the surveyโs history and on par with last yearโs record of $22.9 billion. Half of consumers plan to purchaseโฆ