1. COST VERSUS CUSTOMER EXPERIENCE: As retailers compete on customer experience throughout the omni-channel supply chain process, the type of real estate and where it is located is playing a major role. In fact, according to JLL research, seven out of 10 retailers are still shaping their omni-channel product offering and customer service commitments. Meanwhile, Boston Consulting Group data shows… Read More
1. FAIL TO PLAN = PLAN TO FAIL: For those companies embracing a rebranding effort, there’s no room for mistakes. On average, organizations refresh their corporate brands once every seven to ten years. Not only does rebranding require a lot of time, money and resources, but the company’s reputation is also at stake. Brand implementation is all about building… Read More
1. CROSS BORDERS, CAREFULLY: An expansion outside the relative comfort zone of the United States takes a great deal of study, patience and planning. Most foreign retailers that expand into the U.S. spend 12-24 months on research and due diligence before they even consider possible sites for their stores. U.S. retailers who want to cross borders would be wise to adopt a… Read More
1. EMBRACE THE OMNI-CHANNEL EXPERIENCE: More and more retailers are striving to build a true omni-channel experience that merges at-home, in-store and mobile commerce into one seamless experience. In other words, if a customer wants to view an item online, purchase it using their phone and pick it up in-store, they can do so in a smooth and effortless way.… Read More
1. DITCH THE PAPER, DO DIGITAL: Rising paper costs and decreased customer usage makes going paperless a “no brainer” for your shopping center. Shoppers like receiving messages about retailer sales, upcoming events and safety information on their smartphones, tablets and digital devices. Embrace the opportunity to dump the… Read More
1. DRIVE FOR DATA—NOT JUST YOUR GUT: Not every retailer collects every piece of customer data: addresses, shopping frequency, in-store and on-line purchase amounts, but that’s ok. Augment the data you do have with in-store customer satisfaction surveys, and consider tapping into customer loyalty programs… Read More
As consumer confidence continues to climb and economic prospects for retailers improve, JLL is getting a big boost to its retail business by acquiring Wilson Retail Group, a leading, independent retail brokerage and capital markets firm in Southern California. The transaction will enable JLL, already the nation’s largest third-party retail property manager, to provide a broader range of brokerage and investment… Read More
1. GET UP CLOSE AND PERSONAL: When it comes to social media, listening is twice as valuable as posting! Retailers who follow this rule are the winners today because shoppers willingly share valuable personal data on social media. Consumers have fewer privacy hang-ups than in previous years and obtaining personal information is easier for retailers. The trade-off is consumers expect you… Read More
1. DARE TO BE DIFFERENT: Enhancing a retail center with unique tenants creates synergy and healthy competition. New experiences drive traffic, repeat visits and sales. Keep your center fresh with new and different shops; develop relationships with local and regional boutiques so you’ll be their first call when they’re ready to expand. Offer competitive and flexible… Read More
1. KEEP YOUR OPTIONS—AND DOORS—OPEN: The Americans with Disabilities Act (ADA) is designed to prohibit discrimination and ensure equal opportunity for people with disabilities. In effect since 1991, it’s undergone updates, affecting most commercial real estate in some fashion. In fact, all commercial spaces used by the… Read More
