Tanger’s Post

With 54 million visitors annually, Rundle Mall is one of the country’s busiest malls, seeing foot traffic grow to levels 27% higher than 2019, despite the impact of a global pandemic.   Rundle Mall’s Executive Manager Andrew White spoke with Inside Retail Australia recently, highlighting how 85% of the retail spend in the City of Adelaide occurs within the Precinct, reaching some $1.4 billion last financial year.   “There is potentially some trepidation for businesses around coming into South Australia, but once they launch in the Mall, they realise they have customers here and often expand further,” Andrew says.   That’s evidenced by brands such as Sephora, Mecca and UNIQLO launching exclusively in Rundle Mall, before expanding their footprint elsewhere in the state.   Read more about how Rundle Mall is attracting global brands in the Inside Retail article here: https://lnkd.in/g7-q3Pwu  

"By Kate King Aug. 6, 2024 9:00 pm ET The owners of the shopping center at Legacy West considered adding a department store to attract visitors and luxury retailers to their mixed-use project in #Plano, #Texas. Instead, Prism Places, Inc. and its partners opted for a lavish food hall. The food hall opened in 2017 with more than two dozen #restaurants and #bars, live music and a brewery. Within a couple of years, it was drawing 30,000 visitors a week and a Louis Vuitton shop moved in across from the main entrance. Tiffany & Co., Gucci and other luxury brands followed, with some pulling out of the nearby mall’s Neiman Marcus Group to open at Legacy West. “We said, ‘Instead of going after a department store, let’s do something that’s more fun and more interesting and that will drive a lot of traffic,’” said Mark Masinter, a partner on the project who handles leasing and tenant curation. #Department stores are bleeding customers, and landlords no longer view them as magnets for shoppers. Discounters are underpricing them. Specialty stores are outmaneuvering them. And luxury brands are sometimes bypassing department stores to open their own shops.  The surviving operators are making big moves in hopes of turning things around. Saks Fifth Avenue’s parent company is buying rival Neiman Marcus. Nordstrom executives are exploring taking the company private. Macy's new chief executive is closing stores while trying to improve the shopping experience at its leaner fleet.  But department stores’ long-term decline will be difficult to reverse. Their sales peaked just before the turn of the century and have been on a downward trajectory ever since, according to U.S. census data...." The Wall Street Journal

The retail sector is buzzing with activity as numerous brands unveil new stores, offering innovative shopping experiences and expanding their market presence. From luxury boutiques to sustainable megastores, these openings provide valuable insights into the strategic moves shaping the future of retail. Key themes include global expansion (e.g. Castlery and Aesop), and local expansion (e.g. the memo, Savers Australia, BIG W, Fred by LVMH, Rodd & Gunn and Salvos Stores). Additionally, the revamping of flagship stores and brands (e.g., Michael Hill, KOOKAI Australia, Forever New, and Banana Republic) is making significant wave. Plus, keep an eye on upcoming store openings such as LSKD and GLASSONS LTD, which promise to introduce fresh and exciting retail experiences. - To read the full article, click the link below: https://lnkd.in/gkP3UpUp ⁠ Subscribe to the RetailOasis Newsletter for the most up to date retail news & trends. We’re thought-leaders in the retail industry.⁠ ⁠ #RetailOasis #RetailInsights #StoreOpenings #Retail

Macy's recent decision to close nearly a third of its stores is set to significantly transform the retail landscape, particularly in shopping malls across the U.S. As department stores decline, mall owners are repurposing these large spaces into more diverse and innovative developments, including medical buildings, co-working spaces, and entertainment hubs. This shift not only reflects changing consumer preferences but also offers opportunities for malls to reinvent themselves and attract more visitors. #RetailTransformation #Malls #Macys #CommercialRealEstate #RetailInnovation #ShoppingMalls #RetailSpaces #ConsumerTrends #MallRedevelopment #RetailEvolution

The department store-luxury brand pendulum swings back and forth. Brands think they need department stores to reach a critical mass of customers, particularly aspirational ones.👜 But when they rely too much on third party distribution channels, they fail to establish a direct connection with their customer. 🙋🏼♀️ So they open #retail stores. Luxury brands have expanded their 𝗼𝘄𝗻 U.S. retail presence 18% year over year from 2022 to 2023 📈. And they beef up their 𝗼𝘄𝗻 #ecommerce presence.💻 🔑 💡 "Own" is the key word. When consumers browse and buy at a brand's 𝗼𝘄𝗻 distribution channel, the brand 𝗼𝘄𝗻𝘀 the customer experience and the information resulting from that experience. Saks+Neiman Marcus = upper hand or futile endeavor? #FTC The pendulum is swinging.◀️▶️ Luxury chased department stores. Then luxury invested in owning its customer. Now department stores are combining to chase luxury and own the customer. Will the pendulum swing back? ⚖️

When Korean beauty retailer PURESEOUL • Korean Beauty needed to secure a prime location in Oxford’s Westgate Shopping Centre before the Christmas rush, they turned to Greenwoods for swift, expert assistance from our Real Estate team. Don’t let complex leases and tight deadlines hold your expansion plans back. Contact us to learn how we can help you secure the locations you need for your business and keep your roll out on track. Find our more below ⬇ #RealEstate #LeaseNegotiations

When Korean beauty retailer PURESEOUL • Korean Beauty needed to secure a prime location in Oxford’s Westgate Shopping Centre before the Christmas rush, they turned to Greenwoods for swift, expert assistance from our Real Estate team. Don’t let complex leases and tight deadlines hold your expansion plans back. Contact us to learn how we can help you secure the locations you need for your business and keep your roll out on track. Find our more below ⬇ #RealEstate #LeaseNegotiations

When Korean beauty retailer PURESEOUL • Korean Beauty needed to secure a prime location in Oxford’s Westgate Shopping Centre before the Christmas rush, they turned to Greenwoods for swift, expert assistance from our Real Estate team. Don’t let complex leases and tight deadlines hold your expansion plans back. Contact us to learn how we can help you secure the locations you need for your business and keep your roll out on track. Find our more below ⬇ #RealEstate #LeaseNegotiations

It’s interesting to see the resurgence of legacy brands like Toys R Us and Bed Bath & Beyond making a strategic comeback into brick-and-mortar retail. Toys R Us recently opened new standalone stores in Chicago and Austin, aiming for a physical presence that complements its store-in-store model within Macy’s. Meanwhile, Bed Bath & Beyond’s new ownership is investing in smaller-format stores through partnerships with Kirkland’s and The Container Store, signaling that even online-driven brands recognize the unique value of physical retail. For brokers and investors, this comeback offers two takeaways: 1️⃣ Demand for Smaller Formats: As brands right-size their physical footprints, demand is shifting toward smaller, more flexible retail spaces in high-traffic areas. 2️⃣ Resiliency of Brick-and-Mortar: Even in a digital world, the need for in-store experiences is clear. Legacy brands are using these formats not only for sales but to build brand loyalty and enhance consumer trust. In a retail investment climate that’s constantly evolving, are you seeing these trends play out with other legacy brands, or do you think this is unique to a select few? #RetailRevival #BrickAndMortar #CREInsights #RetailInvestment